There’s a lot to be optimistic about in the Materials sector as 1 analysts just weighed in on and Teck Resources (TECK) with bullish sentiments.
Teck Resources (TECK)
In a report issued on January 17, Matt Murphy from Barclays maintained a Buy rating on Teck Resources, with a price target of C$27.00. The company’s shares closed last Tuesday at $19.02, close to its 52-week high of $21.34.
According to TipRanks.com, Murphy is a 4-star analyst with an average return of 15.0% and a 66.0% success rate. Murphy covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, First Quantum Minerals, and Freeport-McMoRan.
Teck Resources has an analyst consensus of Moderate Buy, with a price target consensus of $20.82, implying a 7.4% upside from current levels. In a report issued on March 2, Benchmark Co. also initiated coverage with a Buy rating on the stock with a $14.00 price target.
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