FBU – Macquarie rates the stock as No Rating

Fletcher Building has completed the sale of Formica and disclosed the contribution to FY19 guidance, updating for timing and variations. New guidance range is NZ$620-650m, with a -1.6% downgrade at the midpoint from prior guidance.

Macquarie remains restricted on rating and target at present.

Sector: Materials.

Current Price is $4.99. Target price not assessed.

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