The analyst published that target price way before the massive...

The analyst published that target price way before the massive re-rating of lithium plays since the US election outcome.
if you look at resource multiples Vulcan now trades at levels consistent with that of Uk listed Savvanah resources which has a resource in Portugal. Hm. We have a massive resource in the heart of the EV production region - and so transport costs would be much lower and so would be Co2 indirect costs.
As I said above this stock should be at 3.2/sh were we to apply resource multiple of EMH - which I think is a good comparator. Yes they are perceived as having their resource starting earlier than Vulcan’s but they aren’t zero carbon.
This stock is cheap especially heading into a PFS. Watch a NPV of USD1.5-2bn.