Jefferies Cuts Numbers on GrafTech International (GTI)

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Jefferies cuts estimates and its price target on GrafTech International (NYSE: GTI) from $18 to $15, but maintained its Buy rating.

The firm cited deterioration in steel/scrap pricing and a more cautious outlook for global demand.

Q2 EPS goes from $0.18 to $0.16 and FY12 EPS goes from $0.89 to $0.74.

For an analyst ratings summary and ratings history on GrafTech International click here. For more ratings news on GrafTech International click here.

Shares of GrafTech International closed at $9.34 yesterday, with a 52 week range of $9.14-$22.46.

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