Azek price target lowered to $52 from $57 at Truist

Truist lowered the firm’s price target on Azek to $52 from $57 but keeps a Buy rating on the shares. The company’s outlook for the second half of the year was slightly better than the Street, while the results and the earnings call commentary showed very little decelerating demand and lower production that Azek’s close peer Trex (TREX) forecasted for the balance of 2024, the analyst tells investors in a research note. Azek decking sell through was still strong, the firm added.