Five page report published this morning by TD Waterhouse... They maintain their rating at Speculative Buy, and raise the 12-month target from C$6.00 to C$7.50.

First their intro, and then their summary...

"Exeter released the first resource estimate for its Caspiche gold/copper project
in the Maricunga mining district of northern Chile. The resource contained a
total of 8.7mm oz Au with the sulphide portion grading 0.61 g/t Au and
0.25% Cu. This was ahead of our estimate of 8mm oz and street expectations as well.

While we expect this resource represents a significant positive development
for the company, we wish to highlight at the outset that we anticipate that both
the size and grade of the resource may improve significantly in the update
scheduled for September."

Summary:

"We believe that Exeter may have made an important transition from being a drill results story to one of resource growth, which we feel may be more broadly appealing. We expect that the initial resource estimate for Caspiche may be improved upon with the update scheduled in September. We also anticipate that an initial resource estimate at Cerro Moro and drilling focusing on grade at both projects may further positively catalyze the stock. While we have a positive outlook for the development of the story, we also see substantial value in its shares at present. Our revised target price of $7.50/share implies a potential return in excess of 100% from current trading levels. We reiterate our Speculative BUY recommendation."