Azek price target raised to $33 from $28 at Barclays

Barclays analyst Matthew Bouley raised the firm’s price target on Azek to $33 from $28 and keeps an Overweight rating on the shares. Breaking the pattern of negative estimate revisions across building products, Azek’s unchanged guidance should be viewed in a "decidedly positive light," the analyst tells investors in a research note. The firm says that with early-year sell-through tracking better than expected, de-stocking over, and visibility to a 60%-plus quarter-over-quarter increase in revenues for Q2, the company’s outlook "becomes more conservative."