Scotts Miracle-Gro price target lowered to $85 from $95 at Wells Fargo

Wells Fargo lowered the firm’s price target on Scotts Miracle-Gro (SMG) to $85 from $95 and keeps an Overweight rating on the shares. The firm notes Scotts Miracle-Gro had little room for error after surging year-to-date and needed to avoid Q4 noise and guide debates. It avoided neither and Wells gets the pullback. It is unclear if the stock does much into year-end but maybe a tactical long into the season on reset profit, the firm adds.