Truist raised the firm’s price target on Trex Company to $120 from $70 and keeps a Buy rating on the shares. The company’s Q1 revenue guidance was well above expectations on channel fill, with mid single digit sell through expected for the remainder of the year, the analyst tells investors in a research note. Trex business is still growing above the broader repair and remodel market, and upside to projections is likely to be seen if consumer spending accelerates, the firm added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on TREX:
- TREX Earnings this Week: How Will it Perform?
- Trex Innovation Celebrated With Six New Awards for Product Excellence
- Fight Ledger Failure with New Trex® Seal™ Sub-Ledger Tape
- Trex Company price target raised to $92 from $80 at Loop Capital
- Sanctuary, Self-Care and Sustainability Drive Exterior Design in 2024