Jefferies Boosts Numbers on W.R. Grace (GRA)

Jefferies boosted its price target on W.R. Grace & Co. (NYSE: GRA) from $66 to $70 following its Q1 beat.

The firm comments, "Grace's Q1 results illustrate the strength of its FCC Catalyst business in the face of volatile rare earth prices. To reflect the strength in Catalysts, we are raising 2012E EPS $0.10 to $4.30, and Adjusted EBITDA $11m to $650m (vs. the company's range of $630-$650m)."

For an analyst ratings summary and ratings history on W.R. Grace & Co. click here. For more ratings news on W.R. Grace & Co. click here.

Shares of W.R. Grace & Co. closed at $58.10 yesterday.

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