Fletcher Gets New Bull Despite Near-Term Uncertainty -- Market Talk

Dow Jones

04/17

0101 GMT - Fletcher Building gets a new bull in Forsyth Barr, which views a 25% share-price fall since late January as an attractive entry point for investors. Fletcher is trading on a multiple of 10X enterprise value-to-Ebit. That's in line with its long-run average, despite cyclically low earnings, analyst Rohan Koreman-Smit says. "We acknowledge the near-term uncertainty but continue to expect an eventual cyclical recovery in activity as well as benefits from the strategic reset and cost out to lift earnings, lower debt, improve free cashflow and enable dividends to resume," Forsyth Barr says. It upgrades Fletcher to outperform, from neutral, even as its price target drops 8% to NZ$3.80/share on earnings revisions. Fletcher is down 1.7% at NZ$2.91. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

April 16, 2026 21:01 ET (01:01 GMT)

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Fletcher is trading on a multiple of 10X enterprise value-to-Ebit. That's in line with its long-run average, despite cyclically low earnings, analyst Rohan Koreman-Smit says. \"We acknowledge the near-term uncertainty but continue to expect an eventual cyclical recovery in activity as well as benefits from the strategic reset and cost out to lift earnings, lower debt, improve free cashflow and enable dividends to resume,\" Forsyth Barr says. It upgrades Fletcher to outperform, from neutral, even as its price target drops 8% to NZ$3.80/share on earnings revisions. Fletcher is down 1.7% at NZ$2.91. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 16, 2026 21:01 ET (01:01 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fletcher Gets New Bull Despite Near-Term Uncertainty -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFletcher Gets New Bull Despite Near-Term Uncertainty -- Market Talk\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2026-04-17 09:01</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0101 GMT - <a href=\"https://laohu8.com/S/FRCEF\">Fletcher Building</a> gets a new bull in Forsyth Barr, which views a 25% share-price fall since late January as an attractive entry point for investors. Fletcher is trading on a multiple of 10X enterprise value-to-Ebit. That's in line with its long-run average, despite cyclically low earnings, analyst Rohan Koreman-Smit says. \"We acknowledge the near-term uncertainty but continue to expect an eventual cyclical recovery in activity as well as benefits from the strategic reset and cost out to lift earnings, lower debt, improve free cashflow and enable dividends to resume,\" Forsyth Barr says. It upgrades Fletcher to outperform, from neutral, even as its price target drops 8% to NZ$3.80/share on earnings revisions. Fletcher is down 1.7% at NZ$2.91. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 16, 2026 21:01 ET (01:01 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FBU.NZ","symbol_name":"Fletcher Building Limited Ordinary Shares","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2628223539","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2628223539","pubTimestamp":1776387660,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0101 GMT - Fletcher Building gets a new bull in Forsyth Barr, which views a 25% share-price fall since late January as an attractive entry point for investors. Fletcher is trading on a multiple of 10X enterprise value-to-Ebit. That's in line with its long-run average, despite cyclically low earnings, analyst Rohan Koreman-Smit says. \"We acknowledge the near-term uncertainty but continue to expect an eventual cyclical recovery in activity as well as benefits from the strategic reset and cost out to lift earnings, lower debt, improve free cashflow and enable dividends to resume,\" Forsyth Barr says. It upgrades Fletcher to outperform, from neutral, even as its price target drops 8% to NZ$3.80/share on earnings revisions. Fletcher is down 1.7% at NZ$2.91. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"FBU.NZ":"Fletcher Building Limited Ordinary Shares","FBU.AU":"FLETCHER BUILDING LTD","BK8005":"建筑产品","BK7012":"建筑产品"},"translate_title":"尽管近期存在不确定性，弗莱彻仍获得新的牛市——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FBU.NZ":0.9,"FBU.AU":0.9},"content_text":"0101 GMT - Fletcher Building gets a new bull in Forsyth Barr, which views a 25% share-price fall since late January as an attractive entry point for investors. Fletcher is trading on a multiple of 10X enterprise value-to-Ebit. That's in line with its long-run average, despite cyclically low earnings, analyst Rohan Koreman-Smit says. \"We acknowledge the near-term uncertainty but continue to expect an eventual cyclical recovery in activity as well as benefits from the strategic reset and cost out to lift earnings, lower debt, improve free cashflow and enable dividends to resume,\" Forsyth Barr says. It upgrades Fletcher to outperform, from neutral, even as its price target drops 8% to NZ$3.80/share on earnings revisions. Fletcher is down 1.7% at NZ$2.91. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 16, 2026 21:01 ET (01:01 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}