Credit Suisse Raises ROC Target To $51 From $47

Credit Suisse is raising its 12-month price target on shares of Rockwood Holdings, Inc. ROC to $51 (from $47), “which represents a 6.7X multiple on our 2012 EBITDA estimate assuming free cash generation goes toward reducing net debt in our calculation.” “With ROC currently trading at 6.7X our 2011 EBITDA estimate, we believe there is significant upside in the stock and reiterate our Outperform rating,” Credit Suisse writes. Rockwood Holdings currently trades at $40.72.