Boston, MA 07\/10\/2013 (wallstreetpr) –\u00a0The shares of Cytec Industries Inc (NYSE:CYT) plunged by 0.05% to close at $78.38 at trading session of Tuesday, July 9. The stock opened at $ 78.50 and achieved an intraday high of $79.28. Almost 687,077.00 shares were traded on Tuesday\u2019s trading session; which is quite higher than the average volume of the past 90 days trading sessions that stands at 582,561.00 shares.<\/p>\n
Cytec Industries Inc (NYSE:CYT) is a company with specialty in materials and chemicals and has its focus on development, manufacture and selling value-added products.<\/p>\n
The analysts of Goldman Sachs upgraded Cytec Industries (NYSE: CYT)\u00a0to a \u201cbuy\u201d rating from the previous rating of \u201csell\u201d. They upgraded the rating on Monday through a note that was issued to investors. Presently, the company has a price objective of $1.38 on the stock, which was formerly set at $1.03.<\/p>\n
As per the analysts \u201cWe upgrade shares of CYT to Buy from Sell. Since adding CYT to the Americas Sell List on May 15, 2009, shares have risen 256% vs. 85% for the S&P 500. We attribute this outperformance to a multiple re-rating since CYT\u2019s divestment of its lagging Coating Resins business to become a more focused, secularly-driven composite and specialty chemical company. With 787 battery issues resolved ahead of an inflection in build rates, we believe CYT\u2019s multiple expansion is not yet complete. Assuming a HXL multiple (17X Street 2014E EPS) for CYT\u2019s aerospace unit, CYT\u2019s remaining segments trade at less than 7X our 2014 EPS estimate, which is too low in our opinion.\u201d<\/p>\n
Deutsche Bank analysts restated a rating of \u201cbuy\u201d on the stocks of Cytec Industries (NYSE: CYT) on July 1, Monday, through a research note issued to investors. They have presently set a price target of $84.00 on the stock. Independently, the First Analysis\u2019 analysts set a rating of \u201coverweight\u201d on the stock on Friday, June 28.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 07\/10\/2013 (wallstreetpr) –\u00a0The shares of Cytec Industries Inc (NYSE:CYT) plunged by 0.05% to close at $78.38 at trading session of Tuesday, July 9. […]<\/p>\n","protected":false},"author":13,"featured_media":8452,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[2848,2849],"stock_ticker":[],"class_list":["post-8451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-cytec-industries-inc-nysecyt","tag-nysecyt","entry"],"acf":[],"yoast_head":"\n