For EF 6 here's a one-liner if you're re-scaffolding a lot in development. Just update the vars and then keep using the up arrow in package manager console to rinse and repeat.
$lastGoodTarget = "OldTargetName"; $newTarget = "NewTargetName"; Update-Database -TargetMigration "$lastGoodTarget" -Verbose; Add-Migration "$newTarget" -Verbose -Force
Why is this necessary you ask? Not sure which versions of EF6 this applies but if your new migration target has already been applied then using '-Force' to re-scaffold in Add-Migration will not actually re-scaffold, but instead make a new file (this is a good thing though because you wouldn't want to lose your 'Down'). The above snippet does the 'Down' first if necessary then -Force works properly to re-scaffold.