Barclays downgraded Trex Company to Underweight from Equal Weight with a price target of $74, up from $66. The analyst remains constructive on homebuilders and is now incrementally positive on building products, leading the firm to raise its industry view to Positive. The rating change is part of its 2024 outlook for homebuilding and building products.
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Read More on TREX:
- Trex Company price target raised by $8 at Deutsche Bank, here’s why
- Trex Company price target lowered to $67 from $73 at DA Davidson
- Trex Company price target raised to $72 from $70 at BMO Capital
- Trex Company raises FY23 revenue view to $1.09B from $1.04B-$1.06B
- Trex Company sees Q4 revenue $185M-$195M, consensus $187.5M