UK's Morgan Advanced Materials falls on FY rev growth forecast cut
** Shares of insulation products maker Morgan Advanced Materials MGAMM.L fell as much as 4.9% to one-year low of 232p
** Stock top pct loser on FTSE midcaps .FTMC index
** Co says market conditions have weakened during H2 and it now sees further deterioration in outlook for Q4
** Sees full-year revenue growth around 3%, while in August co had reiterated FY rev. growth to be towards the top end of 4%-7%
** Commences £40 mln share buy-back programme
** 6 of 8 brokerages rate the stock "buy" or higher, and 2 "hold"; their mean PT is 358.89p - LSEG data
**Stock down ~18% YTD, as of last close
($1 = 0.77 pounds)
Reporting by Ankita Bora in Bengaluru
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