Morgans lifts its target price for Panoramic Resources to $0.39 from $0.29. This increase follows strong recent commoditiy prices and the third concentrate shipment of nickel since resumption of operations at the Savannah mine.

The broker has a bullish view for nickel in the medium term, and Panoramic Resources is its preferred nickel exposure. The Add rating is maintained.

Sector: Materials.

Target price is $0.39.Current Price is $0.33. Difference: $0.06 - (brackets indicate current price is over target). If PAN meets the Morgans target it will return approximately 15% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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