The Globe and Mail reports in its Friday, April 5, edition that National Bank Financial analysts Shane Nagle and Rabi Nizami think a "sentiment driven" rally has pushed copper prices higher. The Globe's David Leeder writes in the Eye On Equities column that Mr. Nagle and Mr. Nizami say in a note: "Despite elevated copper inventories and pending supply growth through H2/24 -- 2025, improving manufacturing numbers out of China, pending rate cuts and view of more long-term electrification demand resulting from AI have driven a significant increase in speculative interest in copper markets over recent weeks. As a result, we have increased our near-term copper price outlook." Accordingly, Mr. Nagle and Mr. Nizami have reaffirmed their "outperform" recommendation for Teck Resources. Their share target climbed to $77.50 from $77. Analysts on average target the shares at $63.95. Mr. Nagle adds, "Divestiture of the steelmaking coal business provides significant cash to bolster the balance sheet ahead of delivering the next leg of copper growth as well as returning cash to shareholders -- both supportive of a rerating."