It's preferable to undertake one's own research but merely for...

It's preferable to undertake one's own research but merely for information this comment from an analyst on the 'lively' blog today is below:

Reece (ASX: REH)

Tim Riordan (SELL): Reece. So we think this one is a great business. The Wilson family have done an incredible job, putting it in an amazing position, particularly in Australia, with their plumbing and bathroom distribution business. And now, they are looking to replicate that in the States and beginning to see some traction there as well, particularly with the last result in Feb. But it feels like positioning, expectations, and its valuation are just too rich. Its Aussie business is relatively mature. And its US business is in its infancy. But with the group on 40 times earnings, there's a lot baked into success in the US already, so that one's too crowded for us.