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
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