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Fly News Breaks for June 1, 2018
SMG
Jun 1, 2018 | 06:43 EDT
JPMorgan analyst Jeffrey Zekauskas downgraded Scotts Miracle-Gro to Underweight from Neutral and lowered his price target for the shares to $85 from $95. The company faces challenges both in its core consumer business and in its hydroponics operation, which serves the cannabis market, Zekauskas tells investors in a research note. He sees a low probability of the stock trading higher on Scotts' mid-June update at an investor conference. He also believes the probability of "stellar" fiscal Q3 results is low.
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