Trex Company price target raised to $92 from $80 at Loop Capital

Loop Capital raised the firm’s price target on Trex Company to $92 from $80 and keeps a Buy rating on the shares as part of a broader research note on Decking. The firm’s latest composite decking survey showed another strong quarter of sell through demand and positive 2024 outlook, the analyst tells investors in a research note. . The continued 2024 demand optimism has been driven by improved demand visibility with nearly two-thirds of respondents having contractor backlogs into the June quarter, Loop states, adding that its analysis of search activity continues to track well ahead of pre-pandemic levels.