The last few months have been a rollercoaster ride for shareholders of leading graphite miner Syrah Resources Ltd (ASX: SYR).
The Syrah share price took an almighty hammering in October following the sudden exit of its CEO Tolga Kumova.
All in all, its shares drifted 40% lower in the weeks that followed to a new 52-week low of $2.62.
But not long after hitting that low its shares went gangbusters as speculation of a takeover offer from mining giant South32 Ltd (ASX: S32) surfaced.
Unfortunately no takeover offer ultimately materialised and its shares have sunk lower yet again.
Is the rollercoaster ride over?
It looks as though shareholders could be set for another new twist following a report in the Australian Financial Review yesterday.
Not only did the report reveal that analysts at Credit Suisse had reiterated their outperform rating on Syrah, but they have slapped a $7.80 price target on its shares. That's a massive 160% higher than the current share price.
Should you invest?
Considering the incredible rise of lithium miners Galaxy Resources Limited (ASX: GXY) and Orocobre Limited (ASX: ORE), I am surprised to see Syrah languish like it has.
Its Balama graphite project in Mozambique is at an advanced construction phase and believed to be on schedule to open in the second quarter of 2017.
This is a world-class asset and will make Syrah the world's largest producer of high purity graphite when it opens. The spherical graphite it produces will then be used in the anode of lithium-ion batteries.
In light of this I believe Syrah could be a great option for those investors that want exposure to the lithium boom, but feel like they missed the boat with Galaxy or Orocobre.
It is however a high risk one and for that reason I would suggest investors limit any investment to just a small part of their portfolio.
