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Fly News Breaks for April 4, 2019
TECK
Apr 4, 2019 | 07:15 EDT
MKM Partners analyst Daniel Scott kept his Buy rating and $26 price target on Teck Resources after its Investor Day presentation. The analyst says the company's coking coal operations - his area of focus - is "performing well in a continued strong commodity environment" and offers the "best reserve life" in his coverage. Scott adds that coking coal assets will be Teck's "free cash flow generating machines" over the intermediate to long term, supporting the company's already "strong financial position" with CAD6.6B of liquidity an no significant maturity until 2024.
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