Azek price target raised to $55 from $52 at UBS

UBS raised the firm’s price target on Azek (AZEK) to $55 from $52. While UBS believes a slightly higher valuation multiple is warranted given continued execution and recent share gains, the firm Keeps a Neutral rating on the shares given the higher- ticket, more discretionary nature of composite decking and the current uncertain economic environment, the analyst tells investors in a research note.