JPMorgan downgraded Scotts Miracle-Gro (SMG) to Neutral from Overweight with a price target of $67, down from $70. The company is likely to pay more for its raw materials in fiscal 2027 relative to fiscal 2026, the analyst tells investors in a research note. The firm says urea prices, diesel prices, and high-density polyethylene are all likely to be higher due to the consequences of the conflict in Iran. Raw material issues are likely to cause some earnings growth uncertainties for Scotts Miracle-Gro, according to JPMorgan.
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