DA Davidson raised the firm’s price target on Trex Company (TREX) to $74 from $70 and keeps a Neutral rating on the shares. The company’s Q3 earnings beat reflected stable sell-through vs. early quarter trends as well as Trex’s solid cost discipline and efficiencies, the analyst tells investors in a research note. Trex’s updates around share repurchase activity, anticipated timing/cost impacts from the start-up of certain operations, and the initial 2025 margin assumptions were also all positive, the firm added.
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Read More on TREX:
- Trex Company price target raised to $78 from $70 at Baird
- Trex Company price target lowered to $67 from $68 at Barclays
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- Trex Company reports Q3 adjusted EPS 37c, consensus 32c
- Trex Company reaffirms FY24 revenue $1.14B, consensus $1.14B
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