Azek price target raised to $57 from $48 at Truist

Truist raised the firm’s price target on Azek (AZEK) to $57 from $48 and keeps a Buy rating on the shares. The stock remains one of the best secular growth stories in the firm’s coverage with the long term market share gains of their decking products, the analyst tells investors in a research note. Azek is also forecasting a substantial margin gain toward competitor Trex Company (TREX), which could also cause a revaluation closer to its multiples, the firm states, adding that a repair and remodel pickup this year would drive its estimates higher.