Barclays Maintains Underweight on Trex Co, Raises Price Target to $94
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Matthew Bouley maintains an Underweight rating on Trex Co (NYSE:TREX) and raises the price target from $93 to $94.
May 10, 2024 | 7:40 pm
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Barclays maintains an Underweight rating on Trex Co but increases the price target from $93 to $94, indicating a slight positive adjustment in valuation but still cautious on the stock's outlook.
The adjustment in price target by Barclays reflects a minor positive reassessment of Trex Co's valuation, yet the continuation of the Underweight rating suggests ongoing concerns about the company's prospects. This mixed signal could lead to a neutral short-term impact on the stock as the market digests both the slight increase in price target and the reaffirmed cautious stance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100