The Globe and Mail reports in its Thursday, Nov. 16, edition that Canaccord Genuity analyst Dalton Baretto has reaffirmed his "buy" recommendation for Teck Resources. The Globe's David Leeder writes that Mr. Baretto gave his share target a $3 trim to $63. Analysts on average target the shares at $65.39. Mr. Baretto tweaked his share target in response to Teck's deal to sell its coal business to Swiss commodities trading giant Glencore and two Asian steelmakers. Mr. Baretto says in a note: "This transaction achieves the clean separation between the metals and the coal businesses as originally promised. The gross-up valuation implied by the GLEN portion of the transaction is in line with what we valued the business at as of the end of Q3/24. That said, the net realized cash proceeds from the transaction are 13 per cent below this valuation. The major cash inflow sets the board up to announce a major cash dividend post-closing, and we believe we could see a one to two times increase in Teck's EBITDA multiples post the closing of this transaction (offset by the loss of EBITDA from EVR, of course)." The Globe reported on April 20, 2022, that Mr. Baretto had cut Teck to "hold" from "buy." It was then worth $54.49.