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Fly News Breaks for December 17, 2019
EAF
Dec 17, 2019 | 05:01 EDT
BMO Capital analyst David Gagliano downgraded GrafTech to Market Perform from Outperform with a price target of $14, down from $16. The company's majority shareholder overhang is unlikely to go away anytime soon, and the current "weak" spot market environment for UHP graphite electrodes is unlikely to change in the near term, Gagliano tells investors in a research note. He believes the continued inventory overhang globally is likely to extend through much of 2020 and perhaps into 2021.