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Fly News Breaks for December 8, 2016
SMG
Dec 8, 2016 | 06:41 EDT
BofA/Merrill analyst Christopher Carey upgraded Scotts Miracle-Gro two notches to Buy from Underperform and raised its price target to $105 from $80. The analyst Scotts has become a leader in hydroponics, a category primed to see significant growth for years. Hydroponics is commonly used to grow cannabis, whose legal user base has doubled since the elections. Carey believes Scotts will leverage its supply chain infrastructure to grow hydro growth further and sees blended growth ahead of peers.
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