TSX:TECK.A - Post by User
Post by
Mine_Professoron Apr 23, 2009 8:25am
578 Views
Post# 15938428
Globe says Teck Cominco upgraded to $13
Globe says Teck Cominco upgraded to $13Globe says Teck Cominco target upgraded to $13
2009-04-23 07:39 ET - In the News
The Globe and Mail reports in its Thursday, April 23, edition that Teck Cominco Class B stock shed 41 cents to finish on the Toronto Stock Exchange Wednesday at $12.06 (all figures Canadian unless otherwise stated). The Globe's Allan Robinson writes in the Eye On Equities column the stock has a wide 52-week range of $3.35 to $52.90. Teck Cominco has amended its $9.2-billion (U.S.) in bridge and term loans by extending the $4.8-billio (U.S.) bridge loan by two years to October, 2011, agreeing to repay $1.8-billion (U.S.) by October and deferring certain payments on the term loan due in 2009 to 2012.
Haywood Securities analyst Kerry Smith rates the shares sector-perform. He upgraded his price target by $2 to $13. Mavrix Explorer fund chief Paul MacDonald said in The Globe on April 16 that he liked Teck Cominco. He expected a positive revaluation of the company. It was then trading at $10.80.
National Bank Financial analyst Ian Howat rated Teck Cominco "sector perform" with an upgraded $10.50 price target in the Eye On Equities column on April 8 when the stock was trading at $7.97. Teck stock was trading at $6.64 when Mr. Howat recommended buying the shares in the Eye On Equities column on March 24.