SMG Price Prediction Next Week
Stock Price Prediction for SMG
Based on the analysis of news sentiment and technical indicators, the predicted stock price for Scotts Miracle-Gro (SMG) next trading week is $62.
Recommendation
Buy SMG stock as the combination of oversold conditions and positive analyst sentiment suggests a bullish reversal.
SMG Similar Chart Price Prediction
The price of SMG is predicted to go up -3.02%, based on the high correlation periods with TPL. The similarity of these two price pattern on the periods is 96.4%.
SMG
TPL
Down: -3.02%Similarity: 96.4%
SMG Revenue Forecast
SMG EPS Forecast
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SMG VS S&P500
US household formation growth will drive demand for gardening products. As the market leader in consumer gardening products, Scotts will benefit from the secular housing trend.
Consumer behavior has changed following the covid-19 pandemic, with more consumers engaging in gardening as an activity. As the largest player in the consumer gardening market, Scotts will benefit from this change through higher long-term volumes.
The emerging cannabis industry represents a lucrative opportunity for Scotts, which is well positioned to capture this segment of the market.
SMG Analyst's Forecast
Jonathan Matuszewski
Jefferies
Hold
2024-12-09
Price Target
$72
Downside
-3.28%
Jefferies initiated coverage of Scotts Miracle-Gro with a Hold rating and $72 price target. The firm says the quality of management's playbook is better than years' past, with supply chain cost optimization, added retailer support, and more nuanced consumer messaging. However, the analyst's enthusiasm for Scotts Miracle-Gro is tempered by cumulative inflation and retailer private label aspirations.
Bill Chappell
Truist Securities
Hold
2024-11-08
Price Target
$90 → $70
Downside
-3.58%
Jeffrey Zekauskas
JP Morgan
Buy
2024-11-07
Price Target
$85 → $80
Upside
+9.6%
