'Benign' ComCom report is good news for Fletcher's – Jarden

Jarden's Grant Swanepoel described the findings and recommendations as ‘benign’. (Image: Jarden)

Fri, 05 Aug 2022

Investment house Jarden has rated Fletcher Building as a ‘buy’ in the wake of the Commerce Commission’s draft housing supplies study, which signalled a ‘hands off’ approach to New Zealand’s dominant building materials players.Shares in Fletcher’s tracked up from $5.06 on Monday on the NZX, closing up 4.3% higher at $5.28 ahead of the commission’s report, issued on Thursday morning.Research analyst Grant Swanepoel set a target price of $6.40 on the stock, which is down on the $7.23 'neutral'...

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