The Globe and Mail reports in its Friday, Jan. 16, edition that Raymond James analyst Brian MacArthur has lowered his recommendation for Teck Resources to "market perform" from "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. MacArthur gave his share target a $3 boost to $70. Analysts on average target the shares at $66.17. Mr. MacArthur says in a note: "We have updated our commodity price forecasts for the precious and base metals complex. On precious metals, we have increased our gold and silver price estimates in the near and long term with near-term increases reflecting continued economic/political uncertainty. Long-term price forecasts were also increased on higher reserve/resource pricing driving higher operating costs and incentive pricing as well as an uncertain economic/political outlook. As a result of the gold and silver price forecast increases, we are broadly raising price targets across the precious metals producers under coverage. In precious metals, we prefer Agnico Eagle among the senior producers for its lower jurisdictional risk exposure and strong project pipeline and for its potential rerate on Fourmile and potential restructuring."