After ScottsMiracle-Gro’s (SMG) series of misses last year, analysts turned bearish on its stock and lowered its price target. Their target was at its lowest in January, at ~$84, but has improved since.
Current price target
Analysts’ average 12-month price target for ScottsMiracle-Gro has increased this year to $93, lower than its June 27 price of $97. Of the eight analysts covering the stock, one recommends “strong buy,” three recommend “buy,” one recommends “hold,” and three recommend “sell.”
Most analysts covering cannabis peers Canopy Growth (WEED)(CGC), Aurora Cannabis (ACB), and HEXO (HEXO) recommend “buy.” However, these companies are not fully comparable to ScottsMiracle-Gro, which grows and sells both medical and recreational cannabis. SMG’s business is also more US focused.