Public praise gay prince coming out (9)

I believe the answer is:

panegyric

I'm a little stuck... Click here to teach me more about this clue!

'public praise' is the definition.
'panegyric' can be an answer for 'praise' (panegyric is a kind of praise). I'm not sure about the 'public' bit.

'gay prince coming out' is the wordplay.
'coming out' is an anagram indicator.
'gay'+'prince'='gayprince'
'gayprince' is an anagram of 'PANEGYRIC'.

Can you help me to learn more?

(Other definitions for panegyric that I've seen before include "Eulogy" , "words of tribute" , "Laudatory address" , "Speech of praise" , "encomium" .)

I've seen this clue in The Times.

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