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”.
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