The Globe and Mail reports in its Tuesday edition that Canaccord Genuity analyst Dalton Baretto upgraded Teck Resources to "buy" from "hold" to reflect "strong" implied return to his target price. The Globe's David Leeder writes that Mr. Barretto hiked his share target to $43 from $29. Analysts on average target the shares at $32.75. Mr. Barretto says in a note: "Teck has been the primary beneficiary of essentially the perfect storm in H2/16, with skyrocketing met coal pricing, significant surges in zinc and copper pricing, and a weakening Canadian dollar. Given this confluence of factors, the stock has returned [almost] 500 per cent year to date in 2016, easily the highest return of any stock in our coverage universe. We humbly admit that we have missed this opportunity, as we have underestimated the strength of the underlying factors driving the rally in the met coal price. While we certainly do not expect history to repeat itself in 2017, based on our revised commodity and Canadian dollar forecasts, we expect Teck to generate more than double the EBITDA in 2017 than it did in 2016. ... We note that forecast declines in the met coal price over the year could put pressure on the company's share price."