Why one analyst has raised his Fletcher earnings forecasts

Wed, 07 Oct 2020

After the years-long stream of bad news for Fletcher Building, one analyst has turned more positive on the company's near-term prospects and raised his forecasts for the 2021 and 2022 financial years.Grant Swanepoel, an analyst at Jarden, said in a note that the macro-economic backdrop to Fletcher's business is far more positive than it looked two months ago.Fletcher said in August it expected a 25 percent drop in residential building consents in New Zealand and a 20 percent fall in Australia.Swanepoel said NZ consents held above 35,000...

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