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Monday, 11/04/2013 11:27:08 AM

Monday, November 04, 2013 11:27:08 AM

Post# of 189
GrafTech raised to Buy at Jefferies, shares +6.2%

09:57 AM ET ? GTI

GrafTech International (GTI +6.2%) is upgraded to Buy from Hold with a $12 price target, from $7, at Jefferies, which says a supply-side correction is underway. The firm's view on pricing prospects for graphite electrodes has improved, citing significant capacity reduction from electrode industry leaders such as GTI with further actions likely, recovery of Western world demand in the coming years, and significant cost reductions. Jefferies boosts GTI's FY 2014 EPS to $0.28 from $0.18.

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