Jefferies reinstates 'buy' on NZ's Fletcher Building; says earnings 'unappreciated'
17/06/2026 20:45
BUZZ-Jefferies reinstates 'buy' on NZ's Fletcher Building; says earnings 'unappreciated' ** Jefferies reinstates "buy" rating on Fletcher Building FBU.NZ with a NZ$4 price target
** Brokerage says the construction materials maker remains attractively positioned for any uptick in New Zealand housing; increases second-half earnings forecasts for Light Building Products division
** Reiterates "view that path to mid-cycle should see a ~15-20% uplift in volumes as well as margin expansion", with meaningful earnings opportunity from FY28
** Co on Wednesday flagged sustained pressure from rising fuel costs and broader input inflation could weigh on its performance in the first half of 2027; shares fell 0.6%
** YTD, FBU shares down 12.5%
(Reporting by Nichiket Sunil in Bengaluru)
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