TSX:TECK.A - Post by User
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retiredcfon Feb 24, 2022 8:26am
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BMO Upgrade
BMO Upgrade After the release of “strong but not unexpected” quarterly results early Thursday, BMO Nesbitt Burns analyst Jackie Przybylowski raised her Teck Resources Ltd. target to $54 from $52, keeping an “outperform” rating. The average is $48.33.
“Teck’s quarterly financial results beat expectations and record quarterly adjusted EBITDA,” she said. “The cash flows have supported a substantial increase to shareholder returns; beyond what we had envisioned when we highlighted Teck’s capital returns in our Q4 preview note. We expect the stock will be up today because this dividend signals Teck’s confidence in the strength of its balance sheet as it completes its investment in the QB2 project later this year. We maintain Teck as Outperform and our ‘best of BMO’ base metals pick.”