The Globe and Mail reports in its Friday, April 25, edition that National Bank Financial analyst Shane Nagle has elevated his recommendation for Teck Resources to "outperform" from "sector perform." The Globe's David Leeder writes that Mr. Nagle continues to target the shares at $70. Analysts on average target the shares at $65.43. Mr. Nagle says in a note: "Given our near-term outlook for copper prices remains cautious, we see Teck relatively well positioned owing to its strong balance sheet, ongoing support from its share buyback and discounted valuation. The market needs to see QB2 ramp-up achieved through H2/25 before being willing to ascribe further value to the company's copper growth pipeline. Since we downgraded to ['sector perform'] on Dec. 9, 2024, Teck is down approximately 24 per cent compared to the S&P/TSX Global Base Metals Index down 17 per cent over that same period. we continue to expect the market to discount Teck's copper growth portfolio given the company's recent track record at QB2; however, these initiatives are smaller scale/less complex projects, and we believe Teck will improve on its project execution while maintaining the option to build when market conditions are most favourable."