The market may be undervaluing Fletcher shares: Craigs

The market may be undervaluing Fletcher shares: Craigs
About 47% of Fletcher's earnings come from building homes and selling building materials. (Image: Supplied)
Jenny Ruth
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...

More Infrastructure

Water reforms not enough to stop council downgrades
Finance

Water reforms not enough to stop council downgrades

Separate balance sheets for water assets won't help most councils.

Pattrick Smellie 08 Nov 2024
Veil of silence over Transpower pylon collapse
Infrastructure

Veil of silence over Transpower pylon collapse

Omexom claims legal privilege to withhold workers' version of events.

Ian Llewellyn 07 Nov 2024
NZ’s third-biggest waste player sold
Infrastructure

NZ’s third-biggest waste player sold

Trash company sold to unknown buyer as sector consolidation continues.  

Victoria Young 07 Nov 2024
Rau Paenga extends helping hand to Antarctica NZ
Infrastructure

Rau Paenga extends helping hand to Antarctica NZ

The infrastructure delivery agency thinks it could assist with Scott Base.

Oliver Lewis 06 Nov 2024