Wells Fargo raised the firm’s price target on Scotts Miracle-Gro (SMG) to $67 from $65 and keeps an Overweight rating on the shares after meetings with management. The firm sees the company in a position to reiterate major tenets of guidance at the annual mid-season update in early June. Following 3 consecutive years of cuts, being “on track” should feel like a win, and Wells sees a good setup in the coming weeks.
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