Goldman Sachs initiated coverage of Trex Company with a Buy rating and $78 price target. Trex is well positioned to leverage favorable secular shifts along with company-specific initiatives to drive growth and profitability ahead of its broader building products peers, the analyst tells investors in a research note. The firm likes the company’s “best-in-class” recycling capabilities and efforts to grow through new product introductions. With the stock down 16% in the last month, it sees the current valuation as an attractive entry point.
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