Teck Resources price target raised to C$76 from C$60 at Citi

Citi analyst Alexander Hacking raised the firm’s price target on Teck Resources (TECK) to C$76 from C$60 and keeps a Neutral rating on the shares after updating its model to reflect latest commodity price forecasts. The only potential major hurdle remaining to the proposed Anglo American merger appears to be regulatory approval from China which previously asked for large copper asset divestment in a large merger, the firm told investors in a research note.