William Blair analyst Jon Andersen has maintained their bullish stance on SMG stock, giving a Buy rating on April 16.
Jon Andersen has given his Buy rating due to a combination of factors that suggest Scotts Miracle-Gro Company presents an attractive investment opportunity despite recent stock declines. The company’s shares have dropped significantly, creating a potential entry point for investors who are willing to look beyond short-term challenges and focus on its strong market position and strategic plans.
Scotts Miracle-Gro’s commitment to enhancing its core lawn and garden segment, improving profitability, and strengthening its financial profile are key elements that underpin Andersen’s positive outlook. The anticipated second-quarter results are expected to address investor concerns and potentially stabilize or boost the stock. Additionally, the company’s strong brand and product offerings in an engaging category further support the Buy recommendation.
According to TipRanks, Andersen is a 4-star analyst with an average return of 5.5% and a 61.63% success rate. Andersen covers the Consumer Defensive sector, focusing on stocks such as Primo Brands, JM Smucker, and SunOpta.
In another report released on April 16, Jefferies also reiterated a Buy rating on the stock with a $69.00 price target.