BUZZ-Benchmark raises Teck Resources' PT on higher byproduct prices

Reuters02-23 22:06

** Benchmark raises price target on U.S.-listed shares of Canadian miner Teck Resources TECKb.TO, TECK.N

** Brokerage raises PT to $67 from $48, represnting upside of 12.7% to stock's last close

** Says 2026 forecast assumes byproduct prices will be lower than in 2025, so if prices stay higher, its unit costs will fall

** Adds that Anglo-Teck merger will create strong value creation

** In 2025, TECK shares were up 18%

(Reporting by Pranav Mathur in Bengaluru)

((Pranav.Mathur@thomsonreuters.com;))

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