SMG - Scotts Miracle-Gro downgraded to Hold at Stifel

2023-07-13 09:28:40 ET

Scotts Miracle-Gro ( NYSE: SMG ) on Wednesday was downgraded to Hold from a previous investment rating of Buy by analysts at financial-services firm Stifel. They said the maker of lawn and garden products will see a smaller profit than they estimated previously.

“We believe the company performed well in the 2023 lawn and garden season, but will likely still trail original expectations given the delayed season start and adverse Northeast weather in May,” W. Andrew Carter, analyst at Stifel, said in a July 12 report.

Stifel cuts its 2024 EPS estimate for Scott Miracle-Gro's ( SMG ) to $2.54 from $2.70.

Stifel lowered its price target on Scotts Miracle-Gro ( SMG ) to $72 a share from $78 a share previously, based on an enterprise value-to-EBITDA multiple of 12.5 times estimated EBITDa for 2024.

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