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Fly News Breaks for August 1, 2018
TREX
Aug 1, 2018 | 09:08 EDT
SunTrust analyst Keith Hughes raised his price target on Trex to $73 after its Q2 earnings beat, saying the company continues to generate organic growth and "excellent margin execution" despite the higher costs associated with marketing expenses and transportation. The analyst also keeps his Hold rating on Trex, noting that the stock is trading at more than double the average valuation of its peer group at about 28-times enterprise value to FY19 earnings estimates.
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