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Fly News Breaks for October 1, 2019
SMG
Oct 1, 2019 | 06:17 EDT
BofA/Merrill analyst Christopher Carey raised his price target on Scotts Miracle-Gro to $108 and kept his Neutral rating, saying the bar on the company's earnings consensus may be "too low". The analyst is particularly positive on Scotts Miracle-Gro's Hawthorne Gardening business, noting the recovery is taking place in the California cannabis market, with added policy developments that may support the broadening of U.S. cannabis space next year. Carey adds that that the company's U.S. Consumer business faces tough comps, but he does not anticipate negative underlying organic sales.
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