UPDATE: Deutsche Bank Downgrades Rockwood Holdings on Good Market Position

In a report published Monday, Deutsche Bank analyst David Begleiter downgraded the rating on Rockwood Holdings ROC from Buy to Hold, and lowered the price target from $77.00 to $70.00. In the report, Deutsche Bank noted, “While we view Rockwood's core Lithium and Surface Treatment businesses as best-in-breed and remain positive longer-term as Rockwood is well-positioned to benefit from improving European economic activity and growing demand for lithium from electric vehicles, with Rockwood's shares up 29% YTD (versus the S&P 500 up 16%), we believe the majority of the upside possible thru portfolio action has largely been realized.” Rockwood Holdings closed on Friday at $63.87.