2151 GMT - Goldman Sachs trims its earnings forecast for Fletcher Building as it waits for more evidence that a business turnaround is underway. GS lowers its Ebit outlook fro FY 2025/2026 by 4%, contributing to its price target falling by 4% to A$2.65/share. "Fletcher Building carries latent turnaround potential," analyst Niraj Shah says. "However, macro lead indicators have only just started to stabilize (and potentially distorted by policy)." That is creating earnings risk in the short-to-medium term, GS says. Also, it believes management needs to outline early its plans to close the margin gap with global peers. Fletcher Building ended last week at A$2.57. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 19, 2025 16:51 ET (21:51 GMT)
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