##{"id":51357,"date":"2006-02-05T12:34:12","date_gmt":"2006-02-05T01:34:12","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2006\/04\/05\/fletcher-building-discount-significant-credit-suisse-says\/"},"modified":"2017-02-24T03:22:43","modified_gmt":"2017-02-23T16:22:43","slug":"fletcher-building-discount-significant-credit-suisse-says","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2006\/02\/05\/fletcher-building-discount-significant-credit-suisse-says\/","title":{"rendered":"Fletcher Building Discount Significant, Credit Suisse Says"},"content":{"rendered":"<p class=\"MsoNormal\"><span>The analysts at Credit Suisse are \u201cconcerned\u201d about New Zealand\u2019s Fletcher Building\u2019s (FBU.NZ) discount to its Australian peers as well as highlighting potential corporate activity over the longer term, given what they see as the company\u2019s potential vulnerability due to its \u201clarge balance sheet capacity relative to the free cash flow it generates.\u201d<\/span><\/p>\n<p \/>\n<p class=\"MsoNormal\"><span><\/span><\/p>\n<p class=\"MsoNormal\"><span>Despite the recent share price appreciation, the analysts calculate the stock is trading at a 19% discount to its peers on FY06 projections and 17% on FY07. <\/span><\/p>\n<p \/>\n<p class=\"MsoNormal\"><span><\/span><\/p>\n<p class=\"MsoNormal\"><span>Although Australian housing activity continues to be soft, the analysts say, activity appears to be \u201clevelling out.\u201d<\/span><\/p>\n<p \/>\n<p class=\"MsoNormal\"><span><\/span><\/p>\n<p class=\"MsoNormal\"><span>As a result of these factors, the analysts have upped their recommendation to Outperform from Neutral and their target to NZ$9.83.<\/span><\/p>\n<p \/>\n","protected":false},"excerpt":{"rendered":"<p>Credit Suisse upgrades Fletcher Building to Outperform<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/51357"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=51357"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/51357\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=51357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=51357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=51357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}