Jefferies sees headwinds for SGL's Carbon Fiber and Graphite units

** Jefferies cuts German carbon-based products maker SGL Carbon SGL to "hold" from "buy" on cautious near-term outlook for Carbon Fiber and Graphite units

** Although the broker endorses the idea of Carbon Fiber business' divestiture, existing market conditions complicate the process and may increase chances of unfavourable terms

** Slower growth in EV sales and weaker SiC (silicon carbide) adoption rate have adversely affected demand for SiC semiconductor products in SGL's graphite solutions business, Jefferies notes

** EVs constitute the leading application for SiC semiconductors, representing a substantial 70-80% market share, the broker adds

** Shares, which fall around 3.7%, are on track for the worst day since November