Truist analyst Keith Hughes raised the firm’s price target on Trex Company to $80 from $65 and keeps a Buy rating on the shares. The company’s Q2 results topped expectations on all metrics amid positive consumer demand, the analyst tells investors in a research note. Guidance for Q3 shows a return to growth, even though Trex management expects channel fill to be pushed into 2024, causing a weaker Q4, Truist added.
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