BMO Capital raised the firm’s price target on Trex Company to $74 from $70 and keeps a Market Perform rating on the shares after its Q2 earnings beat. The analyst is positive on the multi-year conversion opportunity from wood decking to composite, adding that the company’s strong balance sheet also provides financial flexibility for Trex. BMO remains neutral on the stock however, citing near-term uncertainty around demand and a “fairly balanced risk/reward”.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on TREX:
- Trex Company price target raised to $58 from $47 at Credit Suisse
- Trex Company price target raised to $85 from $67 at Benchmark
- Trex Company price target raised to $80 from $65 at Truist
- Trex Products Highlighted in Livabl’s 2024 Virtual Concept Home
- Trex Company price target raised to $82 from $73 at Stifel