Trex Company price target raised to $74 from $70 at DA Davidson

DA Davidson raised the firm’s price target on Trex Company (TREX) to $74 from $70 and keeps a Neutral rating on the shares. The company’s Q3 earnings beat reflected stable sell-through vs. early quarter trends as well as Trex’s solid cost discipline and efficiencies, the analyst tells investors in a research note. Trex’s updates around share repurchase activity, anticipated timing/cost impacts from the start-up of certain operations, and the initial 2025 margin assumptions were also all positive, the firm added.