Jarden sees higher risk from Fletcher pipe issue

Fletcher Building's Ross Taylor has reiterated provisioning on the pipe issue. (Image: NZME)

Thu, 14 Dec 2023

Analysts at Jarden say Fletcher Building is more exposed than previously thought to the pipe issues at its Australian Iplex division and have reduced their price target on the stock.Grant Swanepoel and Luan Nguyen retained a “buy” rating on the stock but have reduced its target price from $6.20 to $6.13.Shares in the construction materials company are currently trading at $4.60.The Jarden note dated Dec 13 said analysts had been given another update from building firm BGC about the Western Australian pipe issue."Self-serving an...

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