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...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Primary Sector

a2 Milk share price looks high as Forsyth Barr downgrades

It's share price is up over 60%.

Riley Kennedy 2:40pm

Retail

Not just Auckland: Ikea eyes online sales at 25-35%

The Swedish furniture giant stresses that sales will be made online too.

Victoria Young 1:40pm

Not just Auckland: Ikea eyes online sales at 25-35%

Economy

Wētā FX narrows loss and rebuilds R&D

New Zealand contracts rose 28% to $411m.

Gregor Thompson 12:10pm

Sponsored

Are employers doing enough to prepare workers to retire well?

When one third of the New Zealand workforce is aged 55 or older – are employers doing enough to help them prepare for retirement?

Moneyfit

Sponsored

Bold Steps: reshaping women’s leadership in Aotearoa

Dame Therese Walsh and Dame Joan Withers reflect on the summit’s unlikely beginnings – and how it has evolved into a platform for ambition and impact today.

OnBeingBold