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.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。