B. Riley analyst Alex Rygiel raised the firm’s price target on Trex Company to $81 from $64 and keeps a Buy rating on the shares. The company reported Q2 results that were ahead of expectations and provided full-year revenue guidance and raised EBITDA margin guidance, the analyst tells investors in a research note. The firm says Trex is seeing continued consumer demand despite economic uncertainty, and margin improvements as it continued to take out costs and improve production efficiencies.
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