The market may be undervaluing Fletcher shares: Craigs

Fletcher Building’s shares could rise if the company maintains its messaging and guidance about firm through-the-cycle earnings in a deteriorating macro environment, according to Craigs Investment Partners analysts.“Our modelling suggests the market continues to undervalue the stock both on a DCF [discounted cashflow] and relative basis,” said Cameron Parker and Ryan Li in a note on the stock.Their DCF valuation is $5.89 per share compared to the $5.38 price the shares were trading at when the note was published.Parker told Bu...