UPDATE: Global Hunter Securities Downgrades Great Panther Silver Limited to Neutral on Management Uncertainty

Global Hunter Securities downgraded its rating on Great Panther Silver Limited GPL from Accumulate to Neutral and reduced its price target from $3 to $2.25. Global Hunter Securities said, "We are downgrading Great Panther Silver (GPL) to a Neutral rating from an Accumulate rating and lowering its price target to $2.25 from $3.00 per share, which is based on 8x projected 2013 CFPS plus cash on hand. We believe taking a wait-and-see approach under the new management structure is necessary given the uncertainty of how these changes will impact the company's execution and strategy." Great Panther Silver Limited closed at $1.67 on Wednesday.