Initiating on Fast-Growing Cannabis Industry: We See Scotts Miracle-Gro as Slightly Overvalued
We are initiating coverage of cannabis, an industry we forecast to grow by 9 times through 2030 amid widening legalization and increased participation for the Canadian, international, and U.S. markets.For Canada, despite recent recreational legalization, cannabis has penetrated just 12% of our estimated market, setting the stage for 20% CAGR through 2030.
For the international market, we forecast market potential of nearly $43 billion and 23% CAGR through 2030 as more and more countries recogni...
Scotts Miracle-Gro is a manufacturer and marketer of consumer lawn and garden products in North America. The company's segments are: United States Consumer, which consists of the company's consumer lawn and garden business located in United States; Hawthorne, which consists of the company's indoor, urban and hydroponic gardening business; and Other, which consists of the company's consumer lawn and garden business in geographies other than the United States and the company's product sales to nurseries, greenhouses and other customers. The company manufactures, markets and sells lawn and garden products in the following categories: lawn care, gardening and landscape, hydroponics, and controls.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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