UPDATE: Citi Raises Price Target on Cytec to $45

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According to Citi, Cytec Industries
CYT
price target is raised to $45. Citi said that CYT reported a good operational beat in 3Q, with carbon fiber performance particularly noteworthy as volumes accelerated and margins registered sequential improvement. “In addition, we expect that outsized exposure to Europe (~60% of segment sales), will weigh on Coatings profitability in the near-term.” Cytec Industries closed on Friday at $42.90.
Posted In: Analyst ColorPrice TargetAnalyst RatingsCiti
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