Forsyth Barr expects Fletcher shares to outperform

Construction is expected to lag consents because of capacity constraints. (Image: Deposit Photos)

Mon, 02 Aug 2021

After so many years of the investment community regarding Fletcher Building shares as a dog of an investment, one of the major broking firms has lifted its recommendation to clients to "outperform".Forsyth Barr analysts Rohan Koreman-Smit and Scott Anderson said they expect Fletcher's earnings momentum to continue over the next 12-to-18 months.They note consensus forecasts are for flat New Zealand earnings over full-year 2022/23 but said they believe the risks are skewed to the upside.That's notwithstanding capacity and supply...

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