UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Cytec Industries

In a report published Monday, Jefferies & Company reiterated its Hold rating on Cytec Industries

, and raised its price target from $71.00 to $73.00. Jefferies noted, “Following Cytec's solid Q3, three themes are apparent: the specialty businesses in the portfolio are executing well; commitment to returning cash to shareholders quickly remains in place; and the Coatings divestiture has rebalanced the portfolio ahead of at least 2-3 years of strong growth in demand for aerospace composites. With a better entry point possible into year-end, we reiterate our Hold rating.” Cytec Industries closed on Friday at $66.19.