Share Price, page-276

Event though Syrah is heavily shorted, it is perhaps a good barometer of graphite sentiment given they are in a ramp-up phase. Closing price on Friday was $3.20. Recent targets are in the range $3.75 to $6.60.

I'll be watching the share price of Syrah alongside the chart for the Lithium ETF to see if Syrah price movement follows generally movement of the Lithium sector.

Recent news:

• In January they announced they are now looking for an alternative site for their Battery Anode Material Plant, following community consultation. Applications for Environmental Permits were submitted, however the local community determined the plant wasn't a good fit (announcement 10 January).
• They've faced ramp up setbacks at Balama (announcement 2 March 2018), although this didn't seem to have too much of an immediately negative impact on the share price (see chart below).
• Their plant was inaugurated on Friday (announcement 13 April 2018).

Syrah Chart



Decided to take a look and see what recent price targets for Syrah (SYR) are:

• Credit Suisse analyst Michael Slifirski - target price of $6.60 on Syrah shares, "and says the company's long-term prospects remained strong despite the recent run of bad news, with graphite demand set to rise strongly even if electric vehicle uptake is modest". Source Australian Financial Review - 11 March 2018.
• Price targets in $3.75 to $6.60 range. Average price target is $4.80 ( source Wall Street Journal - 15 April - http://quotes.wsj.com/AU/XASX/SYR/research-ratings ):

Historic targets:

• Taylor Securities - $4.42 - 5 October 2017
• Credit Suisse - $7.80 - February 2017 ( AFR article )

Credit Suisse identified Syrah as a possible takeover target in March - https://abix.com.au/2018/03/14/credit-suisse-picks-top-takeover-targets/