Truist raised the firm’s price target on Scotts Miracle-Gro (SMG) to $75 from $70 and keeps a Buy rating on the shares as part of a broader research note updating estimates among select Consumer Product names. As the “heart of lawn and garden season”, April-May are the largest months of year for consumer takeaway, so the firm was especially encouraged by the management’s reiteration of guidance at a sellside conference this week following two years of weaker U.S. consumer sales, the analyst tells investors in a research note. The company is also coming into the year with more realistic expectations vs. the prior CFO, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SMG:
- Scotts Miracle-Gro price target raised to $72 from $67 at Wells Fargo
- Scotts Miracle-Gro reaffirms FY25 guidance
- Scotts Miracle-Gro, Project EverGreen expand green spaces at Phoenix Park
- Scotts Miracle-Gro price target raised to $67 from $65 at Wells Fargo
- Scotts Miracle-Gro call volume above normal and directionally bullish