Morgan Stanley has updated its valuation numbers to account for Syrah Resources' 2021 earnings result and March Q update, in which production and costs were in line. Recoveries were below forecast due to several reasons, including maintenance.

The result is a target increase to $1.40 from $1.35. Equal-weight retained.

Industry View: Attractive.

Sector: Materials.

Target price is $1.35.Current Price is $1.99. Difference: ($0.64) - (brackets indicate current price is over target). If SYR meets the Morgan Stanley target it will return approximately -47% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2022 Acquisdata Pty Ltd., source FN Arena