Infrastructure

Craigs recommends investors be ‘overweight’ Fletcher shares

Jenny Ruth
Wed, 22 Jun 2022

Craigs recommends investors be ‘overweight’ Fletcher shares
Craigs analyst Cameron Parker is positive on Fletcher's outlook. (Image: Craigs)
Jenny Ruth
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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