PAN – Morgans rates the stock as Upgrade to Add

In the wake of half year results, Morgans increases the rating to Add from Hold after updating commodity and FX assumptions and taking into account sale proceeds from the Panton PGM project. The target price is increased to $0.16 from $0.15

Based on strong commodity prices, the broker believes the board will approve a production re-start mid-year. There’s also considered upside from more efficient, lower cost mining and processing than previously estimated.

Sector: Materials.

 

Target price is $0.16.Current Price is $0.13. Difference: $0.03 – (brackets indicate current price is over target). If PAN meets the Morgans target it will return approximately 19% (excluding dividends, fees and charges – negative figures indicate an expected loss).

 

 

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