Barclays analyst Matthew Bouley raised the firm’s price target on Trex Company to $86 from $74 and keeps an Underweight rating on the shares. The analyst says that while a conservative guidance sets up Trex to continue exceeding consensus, the Q4 results were only in-line without the gross margin beat some expected, while 2024 outlook implies EBITDA only in-line with consensus.
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Read More on TREX:
- Trex Company sees FY24 revenue $1.215B-$1.235B, consensus $1.22B
- Trex Company sees Q1 revenue $360M-$370M, consensus $307.1M
- Trex Company reports Q4 EPS 20c, consensus 19c
- Trex Company options imply 6.3% move in share price post-earnings
- TREX Earnings this Week: How Will it Perform?
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