Stifel reaffirmed its Hold rating and $71 price target on Scotts Miracle-Gro (NYSE:SMG), maintaining a cautious stance amid questions about the company’s 2025 outlook.

The firm acknowledged general agreement with its earlier downgrade, noting that while the long-term prospects for the U.S. Consumer segment remain attractive, near-term risks persist. Specifically, Stifel expressed concern over the reliability and quality of 2025 U.S. Consumer revenue growth, as well as its own 2026 estimates, which remain well below the current Street consensus.

While open to reassessing its position should conditions improve, Stifel currently sees the risk/reward balance as favoring a neutral approach, given lingering uncertainties around performance execution.