BUZZ-Australia's Reece subject to Fair Value downgrade from Morningstar on outlook cut

Morningstar has cut its Fair Value Estimate for shares of Reece REH.AX to A$13.00, a 4% decrease

Brokerage attributes cut to reduced revenue outlook for the plumbing solutions provider's U.S. segment, believes region doesn't offer same competitive advantages as Australia and New Zealand

Co on Monday posted 19% drop in HY NPAT to A$181 million ($115.2 million), lower than consensus estimate of A$189 million

1 of 12 analysts rate the stock "strong buy", 4 "hold" and 7 "sell"; their median PT is A$20.50 – according to data compiled by LSEG

Stock closed 13.2% lower at A$19.05 on Monday

Stock down 14.9% YTD