GrafTech falls after JP Morgan cuts to 'underweight'
14/04/2026 11:21
** Shares of graphite electrode maker GrafTech International EAF.N down 2.6% at $7.57 premarket ** J.P. Morgan downgrades stock to "underweight" from "neutral", citing structural oversupply in the electrode market and near-term cost risk ** Brokerage, however, views the sector as a "relative safe haven" as it expects 2025's "pent up demand and buyers' acclimation to Trump's 2.0 trade policy could support relatively steady activity moving forward" ** Raises price targets on Steel Dynamics STLD.O, Nucor NUE.N and Reliance RS.N ** 3 of 4 brokerages rate EAF "hold" and 1 "sell" or lower; their median PT is $8 - data compiled by LSEG ** As of last close, EAF down ~50% YTD
| Company | New PT | Previous PT |
| Steel Dynamics | $205 | $192 |
| Nucor | $212 | $198 |
| Commercial Metals Company | $78 | $83 |
| Cleveland-Cliffs | $10 | $13 |
| Reliance | $340 | $330 |
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