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Truist downgrades Scotts Miracle-Gro stock

Yahoo Finance Video

Yahoo Finance Live’s Brian Sozzi discusses Truist downgrading its stock rating for Scotts Miracle-Gro.

Video transcript

BRIAN SOZZI: OK, I want to highlight a downgrade on Scotts Miracle-Gro by Truist analyst Bill Chapell-- Bill Chappell. The rating cut to neutral comes as Scotts warned that retailer replenishment orders were more than $300 million below plan for May in its US consumer segment. The order weakness reflects retailers, such as Home Depot and Lowe's, more closely watching their inventory levels as consumer spending slows.