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.