Browse for image file and display it using Java Swing

My problem here is, after clicking Browse button it displays all files in a directory to choose, then the chosen image is displayed in GUI correctly. But When i click Browse button for the second time, it shows the old image only instead of showing the new one. Please help me in this.

For reference, i uploaded the UI.

package GUI;

import java.awt.BorderLayout;
import java.awt.EventQueue;
import java.awt.Graphics2D;

import javax.imageio.ImageIO;
import javax.swing.ImageIcon;
import javax.swing.JFileChooser;
import javax.swing.JFrame;
import javax.swing.JOptionPane;
import javax.swing.JPanel;
import javax.swing.border.EmptyBorder;
import javax.swing.JLabel;
import javax.swing.JButton;
import java.awt.event.ActionListener;
import java.awt.event.ActionEvent;
import java.awt.image.BufferedImage;
import java.io.File;
import java.io.IOException;
import java.util.logging.Level;
import java.util.logging.Logger;
import javax.swing.GroupLayout;
import javax.swing.GroupLayout.Alignment;


@SuppressWarnings("serial")
public class MainAppFrame extends JFrame {

    private JPanel contentPane;
    File targetFile;
    BufferedImage targetImg;
    public JPanel panel,panel_1;
    private static final int baseSize = 128;
    private static final String basePath =
            "C:\\Documents and Settings\\Administrator\\Desktop\\Images";

    /**
     * Launch the application.
     */
    public static void main(String[] args) {
        EventQueue.invokeLater(new Runnable() {
            public void run() {
                try {
                    MainAppFrame frame = new MainAppFrame();
                    frame.setVisible(true);
                    frame.setResizable(false);
                } catch (Exception e) {
                    e.printStackTrace();
                }
            }
        });
    }

    /**
     * Create the frame.
     */
    public MainAppFrame() {