Scotts Miracle-Gro upgraded to Buy from Hold at Truist

Truist analyst Bill Chappell upgraded Scotts Miracle-Gro (SMG) to Buy from Hold with an unchanged price target of $70. The U.S. lawn and garden category has finally normalized post-COVID and both the category and the company are well positioned to navigate the macroturbulence expected to impact the consumer over the next year, the analyst tells investors. Additionally, the valuation of the stock is “highly attractive on a historical basis,” the analyst argues.