Cytec Industries (NYSE:CYT) Lowered on Lack of Visibility for Coating Orders

With uncertainty surrounding the December coatings orders for Cytec Industries Inc. (NYSE:CYT), Jefferies lowered their price target and EPS estimates on the company.

Jefferies concluded, "Despite being 2/3rds complete, lack of visibility around December coatings orders suggests 4Q results still have the potential to deviate from its updated ranges."

EPS estimates for full year 2011 were lowered from $3.75 to $3.65, and for full year 2012 from $4.30 to $4.25.

Jefferies maintains their "Buy" rating on Cytec at this time, which closed Tuesday at $47.83, losing $1.04, or 2.13 percent. They have a price target of $59 on them, dropping it from $60.