UPDATE 26 May 2009 PanAust Limited Major Capital Raising Announced: No Further B/S Pressure
Extract only
BUY Key Information Stock Code PNA Share Price $0.395 12 Month Price Target $0.50 Expected 12M Total Return 26.6%
Investment View: • We retain our BUY recommendation and price target of $0.50/share. • Copper is our preferred base metal commodity which on a 12 month time frame we see supply struggling to meet demand and PNA has volume driven earnings growth as well as expansion options available. • The key risk as a short term pull back in the copper price in the event that the Chinese driven buying currently evident in global markets eases - we would use any share price weakness as a buying opportunity.
PNA Price at posting:
37.4¢ Sentiment: None Disclosure: Held
