Stifel analyst Stanley Elliott raised the firm’s price target on Azek (AZEK) to $36 from $29 and keeps a Buy rating on the shares. The firm’s proprietary composite decking survey pointed to acceleration in sell-through, normalized channel inventory, which is marginally tightening, and sequentially improving quoting, order, and backlog trends, which it views as indicating “upside risk” to Q2 results for both Trex (TREX) and Azek, the analyst tells investors.
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