Trex Company price target lowered to $35 from $54 at Barclays

Barclays analyst Matthew Bouley lowered the firm’s price target on Trex Company (TREX) to $35 from $54 and keeps an Underweight rating on the shares. The Q3 report shows “cracks” in the company’s near-term fundamentals and a preview of the “share dynamics to come,” the analyst tells investors in a research note. Barclays sees risk that Trex’s “real share loss has not even begun.”