BofA analyst Rafe Jadrosich raised the firm’s price target on Trex Company to $90 from $68 and keeps a Buy rating on the shares. The firm came away from meetings with Trex CEO Bryan Fairbanks incrementally bullish, and thinks Trex’s moat is wider today than any time in its history, the analyst tells investors in a research note. Trex is well positioned to drive conversion to composite decking through its consistent innovation and marketing, the firm contends.
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