Azek downgraded to Market Perform from Outperform at BMO Capital

BMO Capital downgraded Azek to Market Perform from Outperform with a price target of $50, down from $53. Recent channel checks suggest that composite decking demand growth has eased from Q1’s pace and distributors and dealers are well-stocked, the analyst tells investors in a research note. The firm says that with uncertainty around second half of 2025 demand and Azek’s risk/reward more balanced at current stock price levels, it is moving to the sidelines.