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Jefferies is raising its PT on Cytec Industries Inc.
CYT to $65 from $59.
“Adjusted Q4 EPS of $0.83 was $0.26 above our estimate and $0.22 above consensus,” Jefferies writes. “To reflect the anticipated divestiture of Building Blocks ($0.40 EPS contribution in 2011), we are lowering 2011E $0.30 to $3.35 and 2012E $0.30 to $3.95.”
Cytec Industries currently trades at $55.14.
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