UPDATE: Bank of America Downgrades Sociedad Quimica y Minera Following Potash Industry Break-Up

In a report published Tuesday, Bank of America analyst Fernando Ferreira downgraded Sociedad Quimica y Minera (NYSE: SQM ) from Neutral to Underperform, and lowered the price objective from $57.00 to $29.00. In the report, Bank of America noted, “We're downgrading SQM to Underperform from Neutral and slash our Price