UPDATE: Jefferies Raises PT to $72 on Cytec Industries Post Q4 Results

Jefferies reiterated its Hold rating on Cytec Industries

and raised the price target from $73.00 to $77.00. Jefferies said, "Following a solid Q4 (ex-Umeco), two themes are apparent: legacy Cytec appears to be executing well; 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 once the buybacks are done (particularly if demand trends remain choppy), we reiterate our Hold rating." Cytec Industries closed at $73.61 on Friday.