UPDATE: Stifel Upgrades Trex Company
In a report released Tuesday, Stifel analyst John Baugh upgraded Trex Company (NYSE: TREX) from Hold to Buy with a $37 price target.
Analysts at Stifel believe Trex will benefit from the sale of recycled polyethylene to the commercial marketplace, contributing to EPS growth. The Stifel note stated that Trex exposure to residential new homes is projected to provide double-digit growth.
Stifel's $37 price target is based on a mid-2015 EBIT projection between $15 to $20 million.
Latest Ratings for TREX
|Nov 2016||FBR Capital||Downgrades||Outperform||Market Perform|
|Nov 2016||Seaport Global||Initiates Coverage On||Neutral|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.