JPMorgan analyst Jeffrey Zekauskas raised the firm’s price target on Scotts Miracle-Gro to $85 from $70 and keeps an Overweight rating on the shares following the fiscal Q2 update. The increased target reflects somewhat higher EBITDA, lower net debt, a lower share count and a half-turn increase in trading multiple from 11.5-times to 12, the analyst tells investors in a research note.
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