Morningstar calls Lynas' move to buy Meteoric Resources 'reasonable,' retains fair value estimate

** Morningstar says the deal for Australia's Meteoric Resources MEI.AX to buy Lynas Rare Earths LYC.AX for A$968 million ($669.66 million) is "reasonable"

** Investment research firm retains its fair value estimate of A$10 per share

** 8 of 12 analysts rate the stock "buy" or higher, 2 "hold" and 2 "sell" or lower; their median PT is A$20, according to data compiled by LSEG

** LYC's stock up 1.6% YTD, as of last close

($1 = 1.4455 Australian dollars)