UPDATE: UBS Investment Research Downgrades Taminco on Valuation

In a report published Friday, UBS Investment Research analyst Bill Carroll downgraded Taminco (NYSE: TAM ) from Buy to Neutral, but raised the price target from $21.00 to $24.00. In the report, UBS Investment Research noted, “Believe could eventually benefit from more liquidity (free float only ~$420 mil., 72% held by Apollo).