Truist upgrades Scotts Miracle-Gro to 'buy'; shares up

Scotts Miracle-Gro

02/04/2025 19:01

** Shares of lawn and garden care chemical maker Scotts Miracle-Gro SMG.N rise as much as 5.8% to $57.93

** Brokerage upgrades stock to "buy" from "hold"

** Says U.S. lawn and garden category has normalized post-COVID and co is  well positioned to navigate macro turbulence that is expected to impact consumers over the next year

** Believes normalization enables SMG to better forecast demand and expenses, reducing volatility of quarterly reports

** Notes lawn and garden category benefits from times of consumer uncertainty

** Average rating of 10 analysts is "buy"; with a median PT of $77 - data compiled by LSEG

** Including session moves, stock has fallen 13% YTD

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))