Maintaining FVE of $90 for Scotts Miracle-Gro Despite U.S. Federal Announcement Regarding Marijuana
The U.S. Justice Department has announced that it will change the federal prosecution guidelines and allow attorneys to prosecute marijuana-related cases in states where marijuana use has been legalized. Under the previous policy, the Justice Department discouraged the enforcement of a federal ban on marijuana. We doubt there will be significant changes in states where marijuana is currently being sold. As such, we maintain our outlook for Scotts Miracle-Gro's Hawthorne segment, which sells indo...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.
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