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Home PRO

PRO: Raymond James Downgrades Shares of Scotts Miracle-Gro

Steven Lachard by Steven Lachard
March 27, 2019
in Analyst Action, Investments, Marijuana Stocks, PRO, Trading
Scotts Miracle-Gro Company (NYSE:SMG) Marijuana Stocks News

Photo Credit - Neubie via Flickr

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In a recently released analyst update, Raymond James Financials’ Equity Research Analyst, Joseph Altobello, downgraded shares of lawn and garden giant Scotts Miracle-Gro Company (NYSE:SMG) (FRA:SCQA) from Outperform to a Market Perform.

Joseph Altobello’s old price target of $80.00 USD implied a potential upside of approximately 4.04% based on the last traded price of $76.89 USD on the NYSE, but shares are already selling off.

According to TheFly, “As previously reported, Raymond James downgraded Scotts Miracle-Gro to Market Perform from Outperform. Analyst Joseph Altobello said shares have bounced sharply and year-over-year comparisons in its U.S. Consumer business become notably more challenging entering the spring and are likely to limit further multiple expansion.”

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Tags: NYSE:SMGRaymond James Financial, Inc.Scotts Miracle-Gro Company

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Steven Lachard

Steven Lachard

Steven Lachard is a staff writer for MJobserver.com with a particular focus on marijuana stocks. Beyond MJobserver.com, Steven's pot stock insights have been featured on TalkMarkets.com and more.

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