** Jefferies and Morningstar trim their valuations for Brambles BXB.AX after the logistics firm slashed its forecasts due to repair-capacity constraints in the U.S.

** Co on Monday cut its FY26 underlying profit growth on constant-currency basis to 3%-5% vs previous outlook 8%-11%

** Jefferies cuts price target to A$19.55 from A$21.02, retains "hold" call

** Morningstar lowers fair value estimate by 8% to A$23, also cuts underlying EBIT by 6% and 5% for fiscals 2026 and 2027, respectively

** Investment research firm expects higher costs for Brambles in the short term from redirecting pellets, including transportation, handling and storage and mix shift to lower margin sales among other measures

** The view of Brambles as a business with highly predictable and stable earnings growth has now changed, and therefore so too is the multiple the market is prepared to pay for the business until these issues are fully addressed - Jefferies

** Stock down 23.2% YTD, as of last close