Stifel analyst W. Andrew Carter raised the firm’s price target on Scotts Miracle-Gro to $55 from $49 and keeps a Hold rating on the shares. The firm is refining its estimates to include the steeper sales decline and wider profit loss in Q1 of 2024, the analyst tells investors. The firm’s fiscal year 2024 outlook, with performance through the 2024 season key for achieving its near-term estimates. Stifel is maintaining its Hold rating and intends to watch trends as they emerge in the upcoming next two months before gaining confidence in the 2024 season.
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