Scotts Miracle-Gro Faces Downgrade By Stifel Analyst Amid Fears Of Shortfall In Consumer Business
Portfolio Pulse from Lekha Gupta
Stifel analyst W. Andrew Carter has downgraded The Scotts Miracle-Gro Company (NYSE:SMG) to Hold from Buy, reducing the price target from $78 to $72. The downgrade is due to concerns about the company's consumer business and the absence of a planned June update. The analyst expects a high-single-digits decline in operating profit and a 100 basis points Y/Y decline in gross margin. However, significant earnings recovery is expected in FY25, growing 62% vs FY23.
July 13, 2023 | 6:36 pm
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Scotts Miracle-Gro has been downgraded by Stifel analyst due to concerns about its consumer business. The price target has been reduced from $78 to $72, which may impact the stock's short-term performance.
The downgrade by Stifel analyst is based on concerns about Scotts Miracle-Gro's consumer business and the absence of a planned June update. This negative sentiment could lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100