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Morningstar ups fair value estimate for Australia's Reece, shares rise

By Reuters News

** Morningstar raises its fair value estimate for Australia's Reece REH.AX by 10% to A$11.50 per share

** Stock rises as much as 4.5% to A$17.85 per share, highest since February 26, 2025; top gainer on S&P/ASX 200 index .AXJO which is largely unchanged

** Investor research firm ups fair value estimate for plumbing supplies distributor on more optimistic outlook for Australia and New Zealand (ANZ)

** Morningstar says ANZ revenue growth is likely to lead to EBITDA margin improvements in the future

** Investment research firm anticipates modest growth from REH's ANZ segment, largely from improved operating leverage on increased scale

** YTD, stock up 32.8% including current session

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