Trex on Monday morning announced an agreement with Snavely Forest Products to sell Trex railing exclusively through its nationwide network, which Truist tells investors is a “notable” step for Trex, which has been making a big push into distribution for its railing business. The firm thinks the company will continue pushing to increase the attachment rates for its railing products and that there are likely more of these agreements to come. Truist, which made no change to its Buy rating or $100 price target on Trex shares, thinks these wins will have a big impact on growth over the long-term, though they won’t be a major factor in results for the next few quarters.
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