UPDATE: Monness Crespi Hardt Downgrades Rockwood Holdings to Neutral on Limited Upside
Monness Crespi Hardt downgraded Rockwood Holdings (NYSE: ROC) from Buy to Neutral and announced a $62.00 price target.
Monness Crespi Hardt noted, "We are downgrading ROC to Neutral as the recent share appreciation has left limited upside in our view, despite a number of potential upcoming positive catalysts. ROC shares are up 8% today, 24% since the beginning of the year, and over 40% since lows in late November. We believe that the shares are already discounting the majority of potential positive catalysts (Ceram-Tec sales, TiO2 divestiture, Performance Additives sale, buy backs) leaving it susceptible to any unforeseen risks."
Rockwood Holdings closed at $62.04 on Friday.
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