Analysts at Credit Suisse have held firm with their outperform rating but trimmed the price target on this graphite producer’s shares to $2.30 following its recent production downgrade. According to the note, whilst the decline in graphite prices is disappointing and appears to have been driven partly by increased supply in China, the broker remains optimistic on the long term due to its bullish view on demand for lithium-ion battery technology. Whilst I think that Credit Suisse makes a fair point, I would suggest investors wait for graphite prices to rebound materially before considering an investment.
short term price action, page-14
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Last
22.5¢ |
Change
0.005(2.27%) |
Mkt cap ! $232.8M | |||
| Open | High | Low | Value | Volume |
| 22.5¢ | 23.5¢ | 22.5¢ | $406.0K | 1.779M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 230650 | 22.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 23.0¢ | 61000 | 2 |
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| Last trade - 16.10pm 14/08/2024 (20 minute delay) ? |
| SYR (ASX) Chart |