Fletcher Building Ltd

FBU: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Maintaining Our NZD 6 FVE Following Transition in Analyst Coverage for Fletcher Building

Nov 19, 2021

We maintain our NZD 6.00 (AUD 5.70) per-share fair value estimate for Fletcher Building, following transition to a new analyst. We also maintain our high uncertainty, no economic moat and Standard capital allocation ratings. Shares in Fletcher screen at a 16% premium to our fair value estimate.

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