BMO Capital analyst Ketan Mamtora upgraded Trex Company (TREX) to Outperform from Market Perform with an unchanged price target of $72. The recent pullback in the stock offers a “very attractive entry point,” the analyst tells investors in a research note. The firm says Trex has a market leading position in composite decking with a multi-year material conversion opportunity from wood. The company’s balance sheet is “pristine” and it is nearing completion of its large capex program, adds BMO. It believes this should provide share repurchase opportunity and finds the stock’s valuation as “very attractive.”
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
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 $60 from $78 at Citi
- 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
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue