Goldman Sachs lowered the firm’s price target on Trex Company (TREX) to $63 from $73 and keeps a Buy rating on the shares. Trex’s Q3 results missed expectations due to softer demand and channel de-stocking, leading to lower revenue and margins than forecast, though profitability still improved year over year, the analyst tells investors in a research note. With margin recovery expected in 2025, a new $50M share repurchase program, and improving free cash flow, the stock remains attractively valued, Goldman says.
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Read More on TREX:
- Trex Company price target lowered to $63 from $73 at Goldman Sachs
- Trex Company downgraded to Neutral from Outperform at Zelman
- Trex Company price target lowered to $35 from $54 at Barclays
- Trex Company downgraded to Underperform from Buy at BofA
- Trex Company downgraded to Hold from Buy at Vertical Research