Craigs recommends investors be ‘overweight’ Fletcher shares

Craigs analyst Cameron Parker is positive on Fletcher's outlook. (Image: Craigs)

Wed, 22 Jun 2022

One analyst expects new builds of houses to remain above pre-pandemic levels, which should be supportive of Fletcher Building over the medium to long term.Craigs Investment Partners analyst Cameron Parker said in a note that about 33% of Fletcher’s revenue is exposed to the New Zealand residential construction market.While consents to build new homes are running at record levels of about 50,000 a year, he estimated the industry’s capacity is between 35,000 and 40,000 a year.Modelling the NZ residential construction volume for the ne...

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