Trex Company price target lowered to $67 from $73 at DA Davidson

DA Davidson lowered the firm’s price target on Trex Company to $67 from $73 and keeps a Neutral rating on the shares. The company’s Q3 results were “nicely ahead of expectations” amid the mid-single-digit sell-through growth and healthy margins, though its price target cut reflects a growing risk of at least a near-term deceleration in sell-through, the analyst tells investors in a research note.