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Teck Resources Price Target Raised at CIBC, TD
Analysts at CIBC Capital Markets and TD Securities raised their price targets on Teck Resources Ltd. (TECK-B.TO) to $83 from $79, and to $82 from $80, respectively, on Friday.CIBC analyst Anita Soni maintained a Tender rating on shares of the Canadian resource company following its Q1 results on Thursday."The clean beat against our estimate was largely driven by higher copper production in Q1/26 and higher sales of 155kt and zinc sales of 135kt (combined Zn in concentrate and refined) vs. CIBCe of 122kt and 107kt, respectively, due to Q4/25 shipments of inventory," Soni said in a note to clients.TD Analyst Craig Hutchison maintained a Hold rating on Teck shares."We view the strong Q1 result as supportive of our medium-term outlook, with Teck demonstrating strong operational execution following reset expectations, and robust free cash flow generation supported by strength across the portfolio," Hutchison said in a note to clients."While we do view shares as fully valued, QB execution risk continues to decline and the net-cash balance sheet remains well positioned," the analyst said.
$TECK-B.TO