Trex Company price target lowered to $71 from $81 at Jefferies

Jefferies lowered the firm’s price target on Trex Company (TREX) to $71 from $81 and keeps a Hold rating on the shares post the Q4 report. The company reported an “impressive” beat on sales margins, with sell out trends accelerating in the quarter, the analyst tells investors in a research note. The firm says Trex expects a “less noisy” 2025 by managing the channel infill more conservatively and distribution normalizing. Jefferies views the Q1 guidance for sales as slightly better than feared against a tough channel fill comp, and the Q2 sales outlook as “conservative.”