Stifel analyst W. Andrew Carter upgraded Scotts Miracle-Gro to Buy from Hold with a price target of $80, up from $65. Ahead of the company’s fiscal Q2 results, the analyst sees an attractive near-term setup for the shares. Scotts’ margin recovery should enable "outsized" earnings growth alongside its "advantaged long-term growth prospects" that are undervalued at current share levels, the analyst tells investors in a research note. While adverse March weather is a headwind, the outsized attention is misplaced with April weather of greater consequence and favorable, says the firm.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on SMG:
- Scotts Miracle-Gro downgraded to Equal Weight from Overweight at Barclays
- The Scotts Miracle-Gro Company Announces Quarterly Dividend Payment
- ScottsMiracle-Gro Announces Timing of Second Quarter 2023 Financial Results and Conference Call
- Probably worth buying any potential weakness in Scotts Miracle-Gro, says Wells
- ScottsMiracle-Gro Provides Update on Fiscal 2023 Second Quarter; Announces Nate Baxter Joining Executive Team
