Trex Company price target raised to $86 from $74 at Barclays

Barclays analyst Matthew Bouley raised the firm’s price target on Trex Company to $86 from $74 and keeps an Underweight rating on the shares. The analyst says that while a conservative guidance sets up Trex to continue exceeding consensus, the Q4 results were only in-line without the gross margin beat some expected, while 2024 outlook implies EBITDA only in-line with consensus.