PRE-MARKET AUSTRALIAN STOCKS NEWS: Myer (MYR AT) H1 (AUD) net rose 33% Y/Y to 40.3mln, rev. rose 28% Y/Y to 1.88bln

Domain Holdings Australia (DHG AT) - Co. will attempt to undercut REA Group’s annual price increases as its new US owner seeks to gain market share. (AFR)

Downer EDI (DOW AT) - Co. was awarded a AUD 500mln Stockland partnering agreement with a five-year term plus a five-year extension to deliver integrated facilities management services across operational assets in four states. (Dow Jones Newsplus)

Myer (MYR AT) - Co. H1 (AUD) net rose 33% Y/Y to 40.3mln, rev. rose 28% Y/Y to 1.88bln, dividend 0.015, sales rose 1.7% Y/Y at start of fiscal H2. (Dow Jones Newsplus)

Reece (REH AT) - Co. is increasing the price of plastic pipes by more than a third from next month, citing a sharp rise in costs due to the Iran conflict. (AFR)

Broker Ratings/Price Target

Collins Foods (CKF AT) downgraded to Neutral from Buy, price target cut 19% to AUD 10.45/shr by Citi.
Goodman Group (GMG AT) price target cut 11% to AUD 36.73/shr by Morgan Stanley.
Guzman Y Gomez (GYG AT) price target cut 9% to AUD 11.20/shr by Morgan Stanley.
Harvey Norman (HVN AT) price target cut 10% to AUD 5.40/shr by Morgan Stanley.
Insurance Australia Group (IAG AT) cut to Underperform from Equalweight, price target cut 12% to AUD 6.60/shr by Morgan Stanley.
JB Hi-Fi (JBH AT) price target cut 6% to AUD 70.70/shr by Morgan Stanley.
Super Retail Group (SUL AT) price target cut 8% to AUD 12.50/shr by Morgan Stanley.
Wesfarmers (WES AT) price target cut 8% to AUD 79.30/shr by Morgan Stanley.