UBS Downgrades TRONOX (TROX) to Neutral

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UBS downgraded TRONOX (NYSE: TROX) from Buy to Neutral with a price target of $21.00 (from $23.00).

The firm comments, "We are lowering our rating for Tronox to reflect lower near-term earnings expectations due to TiO2 pricing and demand headwinds that we expect to persist until at least the second half of 2013. Our revised target price of $21 gives an excess return near zero and thus we are downgrading our rating to Neutral from Buy."

For an analyst ratings summary and ratings history on TRONOX click here. For more ratings news on TRONOX click here.

Shares of TRONOX closed at $20.94 yesterday, with a 52 week range of $14.12-$190.00.

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