What does the cryptic crossword clue "Rabbit on piano? Respect! (5)" mean?

The definition is "Rabbit on". The wordplay uses a charade (building blocks). P (synonym="piano, music notation") + RATE (synonym="to value") = PRATE; definition: "Rabbit on" The answer is PRATE.

Rabbit on piano? Respect! (5)

Guardian Cryptic #29277 | 9 Across | 2024-01-12 flower

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