Azek price target raised to $54 from $52 at BMO Capital

BMO Capital raised the firm’s price target on Azek (AZEK) to $54 from $52 and keeps a Market Perform rating on the shares after its Q1 earnings beat. Azek is executing well against a choppy backdrop with shelf space wins, new product launches, and some inventory replenishment all aiding growth, but the Q2 margin guidance is a bit light and the increase to FY25 guidance is modest considering the magnitude of the Q1 beat, the analyst tells investors in a research note.