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Fly News Breaks for June 1, 2017
TREX
Jun 1, 2017 | 07:11 EDT
Seaport Global analyst Matt McCail upgraded Trex Company to Buy from Neutral and set a $74 price target following management meetings. The analyst has increased confidence that cost advantages over peers, driven by technology, will accelerate growth, and recent and expected future investments will drive double-digit volume growth. Further, McCail believes Trex should be viewed as a consumer-branded company and warrants a higher multiple than peers.
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