Deutsche Bank Raises Price Target on Teck Resources to $62
Deutsche Bank raised its price target on Teck Resources to $62 from $60, maintaining a Buy rating, following strong Q1 results with record copper sales.
Deutsche Bank raised its price target on Teck Resources (NYSE: TECK) to $62 from $60, reiterating a Buy rating, after the miner reported strong first-quarter earnings driven by record copper sales and favorable commodity pricing.
The bank's revised target reflects confidence in Teck's operational execution and the positive outlook for copper, a key metal in the energy transition. JPMorgan also increased its price target on Teck to $48 from $45, though it maintained a Neutral rating. The divergence in ratings suggests mixed views on valuation, but both banks acknowledge the company's improved financial performance. Teck reported Q1 adjusted EPS of C$1.75, up from C$0.60 a year earlier, while revenue surged to C$3.94 billion from C$2.29 billion. President and CEO Jonathan Price highlighted a strong start to 2026, driven by record quarterly copper sales and steady operations.
For traders, the raised price targets signal that analysts see further upside in Teck shares, particularly if copper prices remain elevated. Live commodities prices and charts on NowPrice show how copper is reacting to supply-demand dynamics. Investors will watch for upcoming economic data from China, the top copper consumer, and any updates on Teck's production guidance. The next key catalyst could be the company's mid-year operational review, which may provide further clarity on copper output targets.