MetroGlass cut to 'neutral' at FNZC as NZ cycle on moderating building cycle

Tue, 08 May 2018

By Rebecca Howard May 8 (BusinessDesk) - Metro Performance Glass was cut to 'neutral' from 'outperform' by analysts at First NZ Capital on expectations the New Zealand building cycle will moderate and the sector will get less of a lift from increased investment. First NZ Capital also cut the 12-month target price to 83 cents from $1.20. The stock last traded at 88 cents and has shed 12 percent so far this year. Analysts Arie Dekker and Grant Lowe said that the Auckland-based glass product's maker has benefited from the strong New Zea...

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