UPDATE: Jefferies Increases PT to $72 on Cytec Industries

Loading...
Loading...
Jefferies raises its price target from $64 to $72 on Hold-rated Cytec Industries
CYT
as the company expands engineering materials with Umeco. Jefferies notes, "Cytec has announced a $439m acquisition in composite materials for aerospace and industrial applications. The deal is expected to close in Q3. Cytec also reiterated its expectation to announced a resolution for separating the Coating Resins business in Q2 and preannounced Q1 EPS of $1.24-$1.28. All in all, a strong start to the year. We are raising 2012 EPS by $0.85 to $4.95." CYT closed at $64.06 on Thursday.
Posted In: Analyst ColorPrice TargetReiterationPre-Market OutlookAnalyst RatingsJefferies
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...