Syrah Resources Ltd

SYR Details 
· Changed currency reporting: Syrah Resources Ltd (ASX: SYR) stock recovered 6.7% on January 09, 2017 at the back of positive market sentiments for the graphite miner. Recently, Syrah changed their reporting currency to US dollars from Australian dollars, starting from year ending 31 December 2016. With this move, the group believes that their financial information comparison would improve. The group is making efforts to position itself as a major supplier in high growth technology markets. Balama Project is on track to start from the second quarter of 2017. The recent pilot program reported a better average flake graphite concentrate grade, leading to a better selling price of Balama graphite.

· Recommendation: Syrah stock corrected over 44.7% in the last six months (as of January 06, 2017) placing them at attractive levels. We maintain a “Buy” recommendation at the current price of - $ 3.50
 

Strong Balama project’s reserves against Canada peers’ reserves (Source: Company Reports) 

Pushpay Holdings Ltd

PPH details 
· Delivered a solid Annualized Committed Monthly Revenue growth: Pushpay Holdings Ltd (ASX: PPH) stock surged over 1.2% on January 09, 2017 as the group reported for a better Annualized Committed Monthly Revenue (ACMR) growth in the December quarter as compared to the September quarter. ACMR surged 10.6%, leading to an increase of US$7.3 million during the December quarter ended 31 December 2016 (excluding ACMR derived from the acquisition of Bluebridge’s church app related business in November 2016). Even during the September quarter, the group exceeded their target by reporting a net Customer (previously Merchant) rise of 795 Customers for the quarter ended 30 September 2016. The group believes their ongoing progress in the USA Faith sector to continue while PPH serviced 30 of the top 100 largest churches in the USA as of September quarter. Pushpay is aiming for US$72 million ACMR by 2017 and targeting for breakeven on a monthly cash flow basis before the end of this year.

· Recommendation: PPH stock surged over 25.9% in the last five days alone (as of January 06, 2017) and is now trading at slightly higher levels. We believe that the stock is “Expensive” at the current price of - $ 1.72

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