Hey Dull,JP Morgan has also joined ABN on the bullish PDN side...

Hey Dull,

JP Morgan has also joined ABN on the bullish PDN side noting it as its preferred Uranium stock

from Dow Jones

2335 GMT [Dow Jones] STOCK CALL: JPMorgan ups its target prices for Energy Resources of
Australia (ERA.AU) and Paladin (PDN.AU) after reviewing uranium price forecasts. Cuts its
uranium price forecast by 16.2% for 2010, 14.3% for 2011 and 18.2% for 2012. However,
revisions to forecasts of ERA earnings from new and legacy contracts see JPM boost
forecast earnings for 2010 by 18.7%. Ups ERA target price to A$19.13 from A$18.10.
"Whilst ERA remains appealing as a defensive stock, with earnings increasing as
lower priced legacy contracts roll off, we maintain our Neutral rating with the company
trading within range of our target price," JPM says. PDN earnings forecasts cut
11.1% in FY10. Despite this, says PDN remains its preferred uranium stock with strong
growth projects that could create a catalyst for the stock. "However, we acknowledge
that under current global conditions the market is unlikely to attribute fair value to
PDN's project and exploration portfolio in the near term," JPM says. PDN target
price upped to A$3.45 from A$3.00. ERA trading down 3.1% at A$18.71, PDN down 1.4% at
A$2.92. (APW)