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Fly News Breaks for March 2, 2020
TECK
Mar 2, 2020 | 07:12 EDT
Benchmark analyst Mark Levin initiated coverage of Teck Resources with a Buy rating and $14 price target. While he believes the investment community remains "rightfully concerned" about the potential for a massive increase in the capital cost to build the company's QB2 copper project in Chile, Levin also thinks the market is undervaluing the quality and long-term cash flow potential of Teck's coal, copper, and zinc assets, he tells investors. He sees the coronavirus and "investor exhaustion" presenting a buying opportunity, he adds.
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