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Fly News Breaks for April 18, 2018
SMG
Apr 18, 2018 | 07:06 EDT
SunTrust analyst William Chappell lowered his price target on Scotts Miracle-Gro to $80 following the company's pre-announcement for a much lower than expected Q2 while also announcing the acquisition of the largest U.S. hydroponics distributor. Chappell says it is "hard to get excited about the company doubling down on hydroponics space while reporting a quarter where its hydroponics business declined over 30% organically", recommending that investors await more clarity before "jumping in". The analyst keeps his Hold rating on Scotts Miracle-Gro.
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