Stifel Upgrades Trex Company to Buy

In a report released Tuesday, Stifel analyst John Baugh upgrades Trex Company, Inc.

from Hold to Buy with a price target of $37 per share. Analyst at Stifel believe Trex will benefit from the sale of recycled polyethylene to the commercial marketplace contributing to EPS growth. The Stifel note stated, Trex exposure to residential new homes is projected to double digit growth. Stifel's $37 price target on Trex is based on a mid 2015 EBIT projection between $15 to $20 million.