Barclays Downgrades Trex Co to Underweight, Raises Price Target to $74
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Matthew Bouley has downgraded Trex Co (NYSE:TREX), a manufacturer of wood-alternative decking products, from Equal-Weight to Underweight. However, he has increased the price target for the company's stock from $66 to $74.

December 13, 2023 | 11:49 am
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Barclays analyst downgraded Trex Co to Underweight but raised the price target from $66 to $74, indicating mixed sentiment.
The downgrade to Underweight suggests that Barclays believes Trex Co's stock might perform worse than the market or its sector in the short term. However, the increase in the price target to $74 implies that the analyst sees some positive aspects or potential in the company's future performance. The mixed sentiment could lead to neutral short-term price movement as the market digests both the downgrade and the raised price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100