Citi lowered the firm’s price target on Trex Company (TREX) to $60 from $78 and keeps a Neutral rating on the shares. The firm reduced fiscal 2025 EBITDA estimates to reflect weaker demand. Composite decking is one of the biggest ticket items in discretionary repair and remodel, and volumes will be impacted by lower consumer confidence amid recent macro uncertainty, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TREX:
- Trex Company price target lowered to $54 from $67 at Barclays
- Trex, Griffon among top picks as Deutsche covers building products
- Trex Company initiated with a Buy at Deutsche Bank
- Trex Company price target lowered to $71 from $76 at Loop Capital
- Trex Company Earnings Call: Innovation Amid Challenges