GrafTech's (NYSE:GTI) Acquisition of Seadrift, C/G Electrodes a Game-changer

Now that the deals by GrafTech (NYSE:GTI) for Seadrift and C/G Electrodes have been completed, Canaccord Genuity, which maintains a "Buy" rating on GrafTech, sees it as a game-changer.

Canaccord said, "GrafTech has officially closed the acquisitions of Seadrift and C/G Electrodes. We continue to view the Seadrift deal as a “game-changer” as ownership of Seadrift should enable GrafTech to secure a large portion of its needle coke needs while potentially benefiting from price increases of this critical raw material through sales on the open market."

GrafTech closed at $20.51 Wednesday, pushing up by $0.91, or 4.64 percent. Canaccord has a price target of $24 on them, increasing it from $20.

Volume was over double the daily 3-month average.