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Scott’s Miracle-Gro: Riding high on the rising marijuana market?

There’s a specific stock poised to benefit from the growing marijuana market, according to JP Morgan, but it might not be the one you’d expect.

The firm recently raised its target price for Scotts Miracle-Gro from $70 to $85, citing an expanding hydroponics market as a driver for growth. As per an article from Barrons, JP Morgan analyst Jeffrey Zekauskas believes the company is shifting its focus to the hydroponics market.

While Zekauskas notes that hydroponics revenues currently represent only about 6 percent of the company’s total business, he sees the marijuana space stoking growth in this area.

Read more at Investing News