Jefferies Reiterates a 'Hold' on Cytec Industries (CYT); Umeco Accretion Complete, Focus Turns to Coating
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Price: $71.94 -0.51%
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 28 | New: 13
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 28 | New: 13
Trade CYT Now!
Jefferies reiterates a 'Hold' on Cytec Industries Inc. (NYSE: CYT) price target of $65.00 (from $63.00).
Analyst, Laurence Alexander, said, "With stranded costs related to Coatings higher than expected, but also layering in Umeco accretion, we are raising 2012E $0.05 to $3.30 and 2013E $0.30 to $4.65. We expect Cytec shares to be range-bound pending clarity on the Coatings divestiture and subsequent capex spending."
For an analyst ratings summary and ratings history on Cytec Industries Inc. click here. For more ratings news on Cytec Industries Inc. click here.
Shares of Cytec Industries Inc. closed at $63.68 yesterday, with a 52 week range of $32.02-$65.46.
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Analyst, Laurence Alexander, said, "With stranded costs related to Coatings higher than expected, but also layering in Umeco accretion, we are raising 2012E $0.05 to $3.30 and 2013E $0.30 to $4.65. We expect Cytec shares to be range-bound pending clarity on the Coatings divestiture and subsequent capex spending."
For an analyst ratings summary and ratings history on Cytec Industries Inc. click here. For more ratings news on Cytec Industries Inc. click here.
Shares of Cytec Industries Inc. closed at $63.68 yesterday, with a 52 week range of $32.02-$65.46.
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