In a recently released analyst research report, Merrill Lynch equity research analyst, Christopher Carey, raised his price target for shares of Scotts Miracle-Gro Company (NYSE:SMG) (FRA:SCQA) while maintaining a neutral rating with earnings on the horizon.
Christopher Carey’s new SMG price target of $108.00 USD per share implies a potential upside of approximately 6.07% based on the last traded price of $101.82 USD per share on the New York Stock Exchange.
According to TheFly, “The analyst is particularly positive on Scotts Miracle-Gro’s Hawthorne Gardening business, noting the recovery is taking place in the California cannabis market, with added policy developments that may support the broadening of U.S. cannabis space next year.”
Carey also added that Scotts’ U.S. consumer business division faces headwinds, but that he does not expect “negative underlying organic sales.”
Meanwhile, just the other day, Chris Carey slashed his price target for shares of Canopy Growth Corp. (NYSE:CGC) (TSX:WEED).
Be sure to subscribe to updates here so you never miss an important development.
Get Real-Time Updates from MJobserver.com