Truist upgrades Scotts Miracle-Gro to 'buy'; shares up

Shares of lawn and garden care chemical maker Scotts Miracle-Gro SMG.N rise as much as 5.8% to $57.93

Brokerage upgrades stock to "buy" from "hold"

Says U.S. lawn and garden category has normalized post-COVID and co is well positioned to navigate macro turbulence that is expected to impact consumers over the next year

Believes normalization enables SMG to better forecast demand and expenses, reducing volatility of quarterly reports

Notes lawn and garden category benefits from times of consumer uncertainty

Average rating of 10 analysts is "buy"; with a median PT of $77 - data compiled by LSEG

Including session moves, stock has fallen 13% YTD