1138 GMT - SGL Carbon's graphite solutions should benefit in the years to come from fast-growing demand for silicone carbide, Stifel analysts Andreas Heine and Isha Sharma say in a research note, raising their target price on the company's shares to EUR13.0 from EUR9.0. Silicone carbide is superior to silicone in semiconductors and used in power electronics, which are in high demand due to electric vehicles and the need for fast charging, the analysts say. Carbide might generate EUR300 million in sales for SGL by 2027, up from more than EUR130 million estimated in 2023. The company is free to capture growth opportunities, with silicone carbide becoming "the most important driver," say the analysts. SGL Carbon shares trade 5.7% higher to EUR8.22. (pierre.bertrand@wsj.com)
(END) Dow Jones Newswires
February 03, 2023 06:38 ET (11:38 GMT)
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