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UPDATE: Goldman Sachs Initiates GrafTech International with Neutral on Balanced Risk/Reward

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Goldman Sachs initiates its coverage on GrafTech International (NYSE: GTI) with a Buy rating and a price target of $11.

Goldman Sachs comments, "We like GTI's global platform and backward integration into needle coke, and consider it a good long-term investment opportunity as (1) non-res resumes in the US, (2) Europe recovers and (3) EAF based steel production rises in emerging markets, particularly China, as they get more self sufficient in scrap. However, these are equally balanced by near-term risks of a weak steel demand environment and GTI's high exposure to Europe. We also expect downward revisions to consensus 2012 estimates and company guidance."

GTI closed at $9.54 on Monday.

Latest Ratings for GTI

DateFirmActionFromTo
Mar 2014JefferiesUpgradesHold
Nov 2013JefferiesUpgradesHoldBuy
Oct 2013JP MorganDowngradesNeutralUnderweight

View More Analyst Ratings for GTI
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Price Target Initiation Intraday Update Analyst Ratings

 

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