Fletcher's Sale of Construction Division Is Positive -- Market Talk

Dow Jones01-21

2354 GMT - Fletcher Building looks to have engineered a positive outcome with the sale of its Construction division to Vinci, suggests Forsyth Barr. Fletcher said the sale is worth NZ$316 million-NZ$335 million, with the range dependent on contracts currently under negotiation. "The price achieved is toward the top end of our estimated value range," says analyst Rohan Koreman-Smit. The deal will slightly reduce Fletcher's earnings. But it should "improve the multiple investors are willing to pay for the balance of the group given lower risk and reduced cash flow volatility," Forsyth Barr says. Its price target rises 19% to NZ$4.15/share. Fletcher is down 3.1% at NZ$3.77. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

January 20, 2026 18:54 ET (23:54 GMT)

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But it should \"improve the multiple investors are willing to pay for the balance of the group given lower risk and reduced cash flow volatility,\" Forsyth Barr says. Its price target rises 19% to NZ$4.15/share. Fletcher is down 3.1% at NZ$3.77. 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Fletcher said the sale is worth NZ$316 million-NZ$335 million, with the range dependent on contracts currently under negotiation. \"The price achieved is toward the top end of our estimated value range,\" says analyst Rohan Koreman-Smit. The deal will slightly reduce Fletcher's earnings. But it should \"improve the multiple investors are willing to pay for the balance of the group given lower risk and reduced cash flow volatility,\" Forsyth Barr says. Its price target rises 19% to NZ$4.15/share. Fletcher is down 3.1% at NZ$3.77. 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