Bank of America Merrill Lynch Reiterates Underperform Rating, $44 PT on Scotts Miracle-Gro Company
In a report published Monday, Bank of America Merrill Lynch reiterated its Underperform rating and $44.00 price target on Scotts Miracle-Gro Company (NYSE: SMG).
BofA Merrill Lynch noted, “Scotts is the leading global manufacturer of lawn and garden products and has over a 50% branded market share in the U.S. With a greater focus on differences in consumer needs across regions, and supply chain efficiencies, we see potential for both top-line growth and margin expansion over time. However, in the near-term, category sluggishness, macro weakness, and volatility are concerns. Over time, unfavorable weather and raw material cost inflation are risks.”
Scotts Miracle-Gro Company closed on Friday at $42.46.
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