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Cytec Industries Shares Jump After Upgrade
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CYT
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NEW YORK (AP) — Shares of Cytec Industries Inc. jumped Monday after an analyst boosted his rating on the specialty chemicals maker, citing its ability to rebound given its diverse product line.
The stock rose $3.46, or 17.5 percent, to $23.27 in afternoon trading. Shares have traded between $10.50 and $64.15 in the past 52 weeks.
Jefferies & Co. analyst Laurence Alexander boosted his rating to "Buy" from "Hold" and his price target to $27 from $20. The new target implies he expects the stock to jump 36 percent over Friday's $19.81 close. ...
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