Azek price target raised to $52 from $44 at Loop Capital

Loop Capital raised the firm’s price target on Azek to $52 from $44 and keeps a Buy rating on the shares. The company reported a “strong” Q1 earnings beat and raised guidance thanks to an improved demand outlook, the analyst tells investors in a research note. The beat was driven by strong double-digit sell through growth during the quarter which came in well above the company’s expectations due to a combination of healthy demand fundamentals, favorable weather, continued material conversion and benefits from last year’s share gains, the firm added.