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UBS upgraded Trex to "Strong Buy" despite missing earnings, citing strong revenue growth and a $52 price target.
UBS upgraded Trex to "Strong Buy" with a $52 price target, citing strong revenue growth despite third-quarter earnings of $0.51 per share, missing estimates by $0.06, and revenue of $285.35 million, below the $301.74 million expected.
Year-over-year revenue rose 22.1%.
The stock, trading around $37.50 with a market cap of $4.01 billion, has a P/E of 20.35 and a beta of 1.55.
Analysts' average rating remains "Hold" with a consensus target of $49.37.
Institutional ownership is 95.96%, with Vaughan Nelson and Pembroke Management increasing stakes.
Trex makes wood-alternative decking, railings, lighting, and cladding across multiple price tiers.
UBS actualizó Trex a "Strong Buy" a pesar de las ganancias perdidas, citando un fuerte crecimiento de los ingresos y un objetivo de precio de $ 52.