Fletcher investors try to find the bottom

"A slight smudge" on CEO Ross Taylor's growing reputation. (Image: Supplied)

Mon, 13 Feb 2023

Analysts at three different broking firms say Fletcher Building shares are undervalued, but the market is struggling to believe them.Fletcher shares have gained 14.8%, or 70 cents, to $5.42 year-to-date, well off their low at $4.68 in December after chief executive Ross Taylor discovered a further $150 million in provisions on the New Zealand International Convention Centre (NZICC) and the associated hotel in Auckland.But analysts from Forsyth Barr, Craigs and Jarden have much higher 12-month targets of $6.10, $6.25 and $6.62 respectively.Jarde...

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