Loop Capital raised the firm’s price target on Azek to $44 from $39 and keeps a Buy rating on the shares as part of a broader research note on Decking. The firm’s latest composite decking survey showed another strong quarter of sell through demand and positive 2024 outlook, the analyst tells investors in a research note. The continued 2024 demand optimism has been driven by improved demand visibility with nearly two-thirds of respondents having contractor backlogs into the June quarter, Loop states, adding that its analysis of search activity continues to track well ahead of pre-pandemic levels.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on AZEK: