MacQuariie has $1 target sp

PAN - Macquarie rates the stock as Outperform BY BROKER NEWS - 02/10/2014
PAN - PANORAMIC RESOURCES LIMITED Panoramic's updated reserve and resource statement suggests a slight reduction in grades offset by slight extensions to Savannah and Lanfranchi mine lives. The broker has trimmed near term earnings forecasts as a result but notes drilling at Savannah North has the potential to materially change the base case given a target of increasing the existing Savannah resource by one to two times. Outperform and $1.00 target. Sector: Materials. Target price is $1.00.Current Price is $0.62. Difference: $0.38 - (brackets indicate current price is over target). If PAN meets the Macquarie target it will return approximately 38% (excluding dividends, fees and charges -