Benchmark analyst Reuben Garner raised the firm’s price target on Trex Company to $85 from $67 and keeps a Buy rating on the shares, noting that revenue, earnings, and EBITDA each came in “firmly ahead of consensus expectations” in Q2. The firm believes the conservative stance of both the company and its distribution partners “sets things up nicely for upside to estimates should our optimism around the consumer come to fruition,” the analyst added.
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