Raymond James Downgrades Scotts Miracle Gro to Market Perform
Portfolio Pulse from Benzinga Newsdesk
Raymond James analyst Joseph Altobello downgraded Scotts Miracle Gro (NYSE:SMG) from Strong Buy to Market Perform, indicating a change in the firm's outlook on the company.

March 25, 2024 | 8:59 am
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NEUTRAL IMPACT
Scotts Miracle Gro was downgraded by Raymond James from Strong Buy to Market Perform, suggesting a neutral outlook on the stock's short-term performance.
The downgrade by a prominent analyst like Joseph Altobello from Raymond James usually indicates a shift in the perceived value or growth potential of the company. While not a sell signal, moving to Market Perform from Strong Buy suggests that the analyst no longer sees the stock outperforming the market in the short term. This could lead to a neutral impact on the stock price as investors reassess their positions based on this new analysis.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100