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Fly News Breaks for February 13, 2020
EAF
Feb 13, 2020 | 07:42 EDT
RBC Capital analyst Arun Viswanathan downgraded GrafTech to Sector Perform from Outperform with a price target of $11, down from $15. The analyst believes that the company's near term catalysts for growth are limited given the lower steel production rates and higher potential for renegotiation of long term agreements, which may results in volume and earnings headwinds. Viswanathan adds that GrafTech customers are likely to see destocing over the next 6-9 months due to elevated inventories.