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Teck Resources (TCK -1.1%) is downgraded to Hold from Buy at TD Securities on the prospect...

Teck Resources (TCK -1.1%) is downgraded to Hold from Buy at TD Securities on the prospect of lower coking coal prices. The firm takes the Q1 2013 benchmark settlement as a cue to reset its average 2013 benchmark coking coal price forecast to $185/ton from $200, pulling TCK's 2013 projected EPS to $2.52 from $2.80 and EBITDA to $3.7B from $4B.
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