
Xero XRO.AX falls as much as 1.2% to A$160.240; marks biggest intraday pct loss since September 3
Morningstar trims fair value estimate by 2% to A$100, citing material overvaluation
Says Melio's buyout won't materially improve co's conversion or retention of customers
Notes sizable drop in stock price after announcement of acquisition of U.S. fintech firm Melio Payments
Says Xero nearing market saturation in Australia, New Zealand as evidenced by fast-deteriorating returns on sales, marketing spending there
Stock rated "buy" on avg; median PT is A$205, per data compiled by LSEG
YTD, XRO falls 4%