Heck I know that this is commissioned research (i.e. paid for by the company) but analyst Charlie Gibson might be incredibly posh but he is no fool. He does know what he is talking about. And thus when I read his research I generally seem to think that his sums stack up. Today comes a note on Pan African Resources (LSE:PAF) in which Charlie increases his target price from 20.77p to 29.83p in light of the purchase of Evander. With the shares now at 21p, it is worth taking a look because Charlie also predicts a dividend of at least 0.34p per share for the year to June 30th 2013 – thus there is still upside of 43.66% on offer if he is right. And I do think he is right.
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