Jefferies Maintains a 'Hold' on Cytec Industries (CYT); Adjusting Estimates on Exit From Coatings Business
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Price: $3.02 --0%
Rating Summary:
5 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies maintains a 'Hold' on Cytec Industries Inc. (NYSE: CYT) price target of $63.00 (from $72.00).
Analyst, Laurence Alexander, said, "We are lowering 2012E $1.55 to $3.05 and 2013E $1.20 to $4.25 to reflect Coatings moving to discontinued operations. Our model benchmarks net proceeds from a full divestiture of Coatings at $1bn."
However, Alexander doesn't include in his estimates that $0.20 accretion in 2012 from the pending acquisition of Umeco and $0.65 in 2013.
He also feels Cytec has significantly reduced its risk profile with the exit of the Coatings business. Alexander sees Mining Chemicals business as resilient, but the Company's Additive Technologies has cyclical near-term risk.
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 $55.77 yesterday.
Analyst, Laurence Alexander, said, "We are lowering 2012E $1.55 to $3.05 and 2013E $1.20 to $4.25 to reflect Coatings moving to discontinued operations. Our model benchmarks net proceeds from a full divestiture of Coatings at $1bn."
However, Alexander doesn't include in his estimates that $0.20 accretion in 2012 from the pending acquisition of Umeco and $0.65 in 2013.
He also feels Cytec has significantly reduced its risk profile with the exit of the Coatings business. Alexander sees Mining Chemicals business as resilient, but the Company's Additive Technologies has cyclical near-term risk.
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 $55.77 yesterday.
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