UPDATE: UBS Starts Scotts Miracle-Gro (SMG) at Buy
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UBS analyst Peter Grom initiates coverage on Scotts Miracle-Gro (NYSE: SMG) with a Buy rating and a price target of $225.00.
The analyst comments "We view SMG as a unique asset with the potential to capitalize on prolonged category growth across Lawn & Garden in a post COVID world as well as outsized growth from the legalization of cannabis in North America. According to our analysis, this renewed growth algorithm, which should push organic sales in the mid-to-high single digit range longer-term, is not reflected in its valuation."
Shares of Scotts Miracle-Gro closed at $196.78 yesterday.
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