Deutsche Bank Downgrades Sociedad Quimica y Minera (SQM) to Hold; Great Assets, but Fairly Valued Now

Deutsche Bank downgraded Sociedad Quimica y Minera (NYSE: SQM) to Hold with a price target of $66.00.

Deutsche analyst says, "We are downgrading SQM to Hold in light of its expensive valuation. We are also slightly increasing our price target to US$66/ADR. We believe SQM has high quality assets, coupled with impressive growth, and therefore should trade at a premium in relation to peers. However, the current premium is already more than double the historical average, and we do not see room for further increases."

For more ratings news on Sociedad Quimica y Minera click here and for the rating history of Sociedad Quimica y Minera click here.

Shares of Sociedad Quimica y Minera closed at $63.95 yesterday.

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