Patersons (PSL) provided an update on its BUY recommendation for PAN, based on the quarterly results. You can read the summary here (Patersons clients likely have access to a full report related to this summary):
https://secure.psl.com.au/publication/your-market-daily/your-market-daily-121023
Briefly, the summary says:
-- higher production but also higher costs than PSL estimates
-- good cash flow (putting PAN in a "solid position to benefit from any turn in nickel prices")
-- cost savings program could add 12-18 cents/sh to target price
-- notes feasibility studies for Gidgee and Mt Henry
Patersons raises PAN's target price to $1.27/she (up from $1.24/sh)
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