BUZZ-Teck Resources Ltd: TD Securities cuts price target

Tue May 26, 2015 10:56am EDT
 
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** Canadian miner's shares down 3.4 pct at C$14.92; U.S.-listed shares down 5 pct at $12

** TD Securities cuts price target to C$16 from C$18; median price target is C$19.25

** "Rapid price recovery" not expected in coking coal, analysts write in note

** "The coking coal market remains over-supplied by 15-20 mln tons with no obvious signs that coal producers are rushing to cut capacity to re-balance the market," they write

** Up to Monday's close, company's Canada-listed stock had fallen 39 pct in past 12 months