Scotts Miracle-Gro (SMG) was in the news due to its foray into the cannabis industry. Unlike Canopy Growth (WEED), Aurora Cannabis (ACB), and Aphria (APHA), Scotts Miracle-Gro isn’t directly in the cultivation business (HMMJ). In this part, we’ll discuss analysts’ recommendations for Scotts Miracle-Gro in the next 12 months.
In February, analysts’ consensus recommendation for Scotts Miracle-Gro was a “buy.” The overall recommendation month-over-month from seven analysts remained largely unchanged. Among the seven analysts, one recommended a “strong buy,” three recommended a “buy,” and three recommended a “hold.” None of the analysts recommended a “sell” in February.
In February, the consensus target price for Scotts Miracle-Gro increased month-over-month to $85.5 from $82.5. On February 21, Scotts Miracle-Gro closed at $80, which implies an upside of ~5.8% if the prices converge over the next 12-month period.
Scotts Miracle-Gro stock has struggled over the past few years. The stock missed the earnings estimate for four of the five recent quarters, which concerned investors. Recently, the company underperformed analysts’ expectations in four of the five earnings releases.
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