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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