Trex Company price target lowered to $80 from $105 at Benchmark

Benchmark lowered the firm’s price target on Trex Company to $80 from $105 and keeps a Buy rating on the shares after the company reported weaker than expected Q2 results and full year sales guidance was revised lower as demand for entry and mid-level product lines fell off with the majority of activity dependent upon premium lines. The firm’s lower target reflects lower estimates and risks to the consumer, the analyst noted.