Panegyric, n.
Etymology: [L. panegyricus, Gr. panhgyricos: cf. F. panégyrique. See Panegyric, a.]
An oration or eulogy in praise of some person or achievement; a formal or elaborate encomium; a laudatory discourse; laudation. See Synonym of Eulogy.
1 other Webster entry under this spelling
Panegyric, Panegyrical, a.
Containing praise or eulogy; encomiastic; laudatory. "Panegyric strains." Pope. -- Pan`e*gyr"ic*al*ly, adv. Some of his odes are panegyrical. Dryden.
Shades of meaning
Fernald has no entry of its own for panegyric; he lists it under praise.
He lists it without comment; the entries above explain its neighbors.