0731 ET - Teck Resources' new lowered three-year guidance is now achievable, RBC's Sam Crittenden says in a research note. The analyst says the biggest downgrade was the expanded coal guidance range of 24Mt-26Mt. Previously the three-year target was 26Mt-27Mt at the start of 2022 and later trimmed to 25Mt-26Mt in 3Q. He says that copper production estimates also took a hit and costs are expected to be higher. "Our net asset value per share is down 4% following Teck's updated 3-year guidance; however, we believe this creates achievable targets for 2023 and beyond," Crittenden says. Shares are up more than 12% in 2023 at C$57.56, and up nearly 40% in the last 12 months. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
February 01, 2023 07:31 ET (12:31 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。