Azek price target raised to $28 from $17 at Wedbush

Wedbush raised the firm’s price target on Azek to $28 from $17 and keeps a Neutral rating on the shares. Per management, production volumes normalized during Q3, which provided some volume leverage for AEBITDA along with less input cost pressure versus Q2. The firm believes this stabilization and continued improvement in the inventory situations for Retail and Commercial warrant higher AEBITDA estimates and a higher price target.