Trex Company price target raised to $55 from $52 at Loop Capital

Loop Capital analyst Jeffrey Stevenson raised the firm’s price target on Trex Company to $55 from $52 but keeps a Hold rating on the shares. The company’s Q4 results produced a "modest" beat against reduced expectations, with the management also having announced that channel destocking concluded by the end of the quarter, the analyst tells investors in a research note. The firm added that while dealers and distributors are hesitant to meaningfully build inventories ahead of the Spring selling season due to increased manufacturer capacity and macroeconomic uncertainties, leading demand indicators for Trex remain at or above last year’s levels.