BUZZ-Teck Resources: Brokerages upgrade stock, raise PTs

Mon Oct 17, 2016 12:46pm EDT
 
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** Canadian coal miner's Toronto-traded stock up 3.9 pct at C$25.60; U.S.-listed shares up 4.2 pct at $19.55

** Both shares touch more than 2 year high in morning trading

** RBC upgrades the Canadian stock to "outperform" from "sector perform", raises PT to C$30 from C$23

** Credit Suisse upgrades to "outperform" from "neutral", ups PT to C$30 from C$23

** Barclays raises PT by C$6 to C$22

** Met coal prices will stay high for long enough to substantially lift earnings prospects of Teck through 2017 - Barclays

** 8 of 22 brokerages rate the stock "buy" or higher, 11 "hold" and 3 "sell" or lower; median PT is $25

** Up to Friday's close, stock has more than quadrupled this year