Trex Company price target raised to $107 from $90 at Stifel

Stifel raised the firm’s price target on Trex Company to $107 from $90 and keeps a Buy rating on the shares after the company reported Q4 revenues and adjusted EBITDA above Street expectations. The firm remains optimistic around the company’s growth profile and notes that Trex also highlighted continued investment in the Little Rock, AR facility and warehouse, which will result in “the lowest cost base longer term.”