Scotts Miracle-Gro price target raised to $74 from $72 at Wells Fargo
Wells Fargo raised the firm's price target on Scotts Miracle-Gro to $74 from $72 and keeps an Overweight rating on the shares. Amid good execution on the core gardening business, the hydroponics business no longer in consolidated results, and manageable inflation, the firm sees prospects to deliver potentially double-digit EPS growth in the coming years. This justifies a multiple at the high-end of historicals, argues Wells.
Wells Fargo raised the firm's price target on Scotts Miracle-Gro to $74 from $72 and keeps an Overweight rating on the shares.
Amid good execution on the core gardening business, the hydroponics business no longer in consolidated results, and manageable inflation, the firm sees prospects to deliver potentially double-digit EPS growth in the coming years.
This justifies a multiple at the high-end of historicals, argues Wells.