Teck Resources (NYSE:TCK) PT Raised on Metals Outlook

With metals expected to do well in 2011, Teck Resources (NYSE:TCK) got a nice bump up in their price target from Deutsche Bank (NYSE:DB), which reminded investors of the diversification of Teck in the sector.

Deutsche Bank said, "Teck Resources Limited (Teck) is Canada’s largest diversified mining company, with operations throughout the Americas, including Canada, the US, Chile and Peru. Teck is the 3rd largest exporter of seaborne traded metallurgical (met) coal in the world (and the largest producer of met coal in North America), ranks among the top 5 largest zinc miners globally and is a meaningful copper producer."

Deutsche reiterates their "Buy" rating on Teck, which closed Tuesday at $63.75, gaining $2.78, or 4.56 percent. Deutsche raised their price target on Teck from $65 to $77.