Azek (AZEK) Stock: $29 Target And Overweight Rating

By Amit Chowdhry ● Jun 23, 2022
  • The shares of Azek Co. (NYSE: AZEK) have received a $29 price target from Barclays. These are the details.

The shares of Azek Co. (NYSE: AZEK) have received a $29 price target from Barclays. And Barclays analyst Matthew Bouley is maintaining an “Overweight” rating on the shares.

Bouley adjusted the rating following the company’s investor day. Azek had released the 2027 targets, including a path to $2.3 billion in revenue, $625 million adjusted EBITDA at a 27.6% margin, and $1.6 billion in cumulative operating cash flows.

And Bouley cited that near-term, management noted that fiscal 2024 results are tracking closer to the low-end of the guidance. So Bouley believes that the stock’s reaction was punitive in the context of a highly detailed investor presentation that showed an achievable earnings outlook with multiple paths to the upside.

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