GrafTech CEO sees MP Materials-DOD deal as possible template, says Citi

Citi notes that Graftech’s (EAF) CEO highlighted the recent public partnership between MP Materials (MP) and the Department of Defense as a possible template for his own company, having said: “I think as Graftech our existing capabilities, the fact that we’re vertically integrated, could potentially position us to be an attractive partner with the Department of Defense.” However, the firm additionally noted that Graftech has been “discussing the anode opportunity for many years without apparent success” and remains “very capital constrained.” Citi has a Neutral rating and 80c price target on Graftech shares.