what a vote of confidence!, page-7

Can anyone explain how Canaccord made these comments back in May regarding SYR's sp/graphite outlook and, just prior to being appointed jointly with Credit Suisse to the recent placement, they produce a BUY recommendation with a $6.00+ target?? Both the CS & Canaccord reports "helped" nudge the sp up prior to the cap raise ann.

I've XXXXX'd out the other company names so as to not be accused of cross promoting.

I'd also like to mention cdchi1 posted this on the SYR thread back in May, so no one can accuse me of raising.


From thebull.com.au
Warwick Grigor, Canaccord Genuity
SELL RECOMMENDATIONS
Syrah Resources (SYR)

CHART

Chart: Share price over the year to versus ASX200 (XJO)

Someone forgot to tell Syrah shareholders the boom is over. This amazing high flying graphite stock, with exploration licences in Mozambique, seems to be defying gravity with a market capitalisation around $242 million. There’s no world shortage of graphite. If you are actually chasing a serious, advanced graphite company, we see better value in XXXXXX or XXXXX, both with a market capitalisation of about $11 million. Common sense will tell you what to do, but, in our view, the Syrah share price is looking vulnerable at these dizzy heights. The shares were trading at $1.76 on May 1.


Also, I was surprised to see the amount of capital needed to be raised at this time. Much more than I expected, considering SYR has been suggesting it's in - "discussions with financiers, offtakers,existing investors and new investors with the expectation of finalising in Q1 2014" - a few months away.