Canaccord Genuity Maintains a 'Buy' on GrafTech (GTI); All Eyes on 2012 Price Negotiations
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Price: $2.70 --0%
Rating Summary:
1 Buy, 3 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 3 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity maintains a 'Buy' on GrafTech International (NYSE: GTI) price target lowered from $24 to $20.
Canaccord analyst, Eric Prouty, said, "GrafTech reported better-than-expected Q3 results, but the news is being overshadowed by the company’s ongoing 2012 price negotiations for both needle coke and graphite electrodes. While we slightly alter our forecasts, the 2012 outlook is still a wildcard as pricing hasn’t been determined yet."
"Based on this updated guidance, we reduce our Q4 EBITDA estimate to $80M, from $94M previously. (The adj. EBITDA figures printed in our model are slightly higher as they also include stock-based compensation expense.) Our full-year 2011 EBITDA estimate is $275M, which is at the lower end of the company’s guidance range of $275M-$285M."
For more ratings news on GrafTech International click here and for the rating history of GrafTech International click here.
Shares of GrafTech International closed at $16.40 yesterday.
Canaccord analyst, Eric Prouty, said, "GrafTech reported better-than-expected Q3 results, but the news is being overshadowed by the company’s ongoing 2012 price negotiations for both needle coke and graphite electrodes. While we slightly alter our forecasts, the 2012 outlook is still a wildcard as pricing hasn’t been determined yet."
"Based on this updated guidance, we reduce our Q4 EBITDA estimate to $80M, from $94M previously. (The adj. EBITDA figures printed in our model are slightly higher as they also include stock-based compensation expense.) Our full-year 2011 EBITDA estimate is $275M, which is at the lower end of the company’s guidance range of $275M-$285M."
For more ratings news on GrafTech International click here and for the rating history of GrafTech International click here.
Shares of GrafTech International closed at $16.40 yesterday.
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