Trump privately backed marijuana rescheduling since taking office: Scotts Miracle-Gro CEO
Written by Emily J. Thompson, Senior Investment Analyst
Source: SeekingAlpha
Trump's Commitment to Cannabis Reform: Scotts Miracle-Gro CEO James Hagedorn stated that President Donald Trump has privately committed to advancing cannabis rescheduling reforms since taking office, with ongoing discussions about a proposal from the Biden administration to reclassify marijuana as a low-risk substance.
DEA Administrator's Stance: Hagedorn commented on the new DEA administrator Terrance Cole's decision not to prioritize cannabis rescheduling, suggesting that Trump's influence could still lead to changes in cannabis policy despite current agency priorities.
Analyst Views on SMG
Wall Street analysts forecast SMG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SMG is 64.09 USD with a low forecast of 51.37 USD and a high forecast of 74.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
4 Buy
1 Hold
0 Sell
Strong Buy
Current: 62.320
Low
51.37
Averages
64.09
High
74.00
Current: 62.320
Low
51.37
Averages
64.09
High
74.00
About SMG
The Scotts Miracle-Gro Company is a manufacturer and marketer of branded consumer products for lawn and garden care. The Company's segments include United States (U.S.) Consumer, Hawthorne and Other. The U.S. Consumer segment consists of its consumer lawn and garden business in the United States. Its consumer lawn and garden brands include Scotts and Turf Builder lawn fertilizer and Scotts grass seed products; Miracle-Gro soil, plant food and gardening products; Ortho herbicide and pesticide products, and Tomcat rodent control and animal repellent products. The Hawthorne segment is engaged in providing nutrients, lighting and other materials used for indoor and hydroponic gardening in North America. Its key brands include General Hydroponics, Gavita, Botanicare, Agrolux, Gro Pro, Mother Earth, Grower’s Edge, HydroLogic Purification System and CYCO. The Other segment primarily consists of its consumer lawn and garden business in Canada.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
