Oppenheimer Revises Guidance On Scotts Miracle Gro

According to Oppenheimer, Scotts Miracle-Gro SMG guidance is revised downward. Oppenheimer said that SMG cut F11 guidance Tuesday afternoon, owing largely to unfavorable weather throughout the US, with a modest improvement in POS of late not nearly enough to offset the late start to spring in much of the country. “We are maintaining our Perform rating on the shares, which should be weak on Wednesday, although their recent pullback may provide an opportunity for long-term investors, particularly as we get better visibility on F12.” Scotts Miracle-Gro closed yesterday at $52.34.