BofA analyst Rafe Jadrosich downgraded Trex Company (TREX) to Underperform from Buy with a price target of $36, down from $67. Following “disappointing” Q3 earnings, 2025 guidance and 2026 margin commentary, the firm lowered its 2025 and 2026 EPS estimates by 13% and 30%, respectively. The downgrade reflects potential heightened competitive pressure from Azek (AZEK), ongoing repair and remodel market weakness and the stock’s premium valuation, the analyst tells investors.
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