Azek price target raised to $39 from $37 at BMO Capital

BMO Capital raised the firm’s price target on Azek to $39 from $37 and keeps an Outperform rating on the shares. The company’s Q3 earnings leave the firm “encouraged” as composite decking demand is better-than-expected, the analyst tells investors in a research note. BMO adds that Azek is focused on de-risking 2024 by producing and selling only what is needed in the market.