** Shares ease after gaining 10.6% in the previous week, 44.6% in July on board recommending merger with L1 Capital
** Morningstar raises fair value estimate for the combined entity to A$0.7 per share from A$0.5
** Investment research firm believes the merger to be 'sensible', says it improves outlook for co by limiting its earnings decline
** Three of 4 analysts rate PTM 'hold', one rates it 'buy'; median PT is A$0.54 - data compiled by LSEG
** YTD, shares up 2.2%
(Reporting by Nichiket Sunil in Bengaluru)
((Nichiket.Sunil@thomsonreuters.com))
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