Goldman Sachs Resumes 3M (MMM) at Neutral

March 21, 2013 7:52 AM EDT
Get Alerts MMM Hot Sheet
Price: $178.49 -0.11%

Rating Summary:
    8 Buy, 9 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Goldman Sachs resumes coverage on 3M (NYSE: MMM) with a Neutral rating and $115 price target, note solid innovation and balance sheet but bad timing.

"Given our near-term outlook and the defensive (e.g., Healthcare, C&O)/early cycle (e.g., D&G, electronics) nature of 3M's businesses, we do not believe now is the time to own MMM shares," the analyst said. "Notably, MMM tends to outperform coverage during downturns/the early stages of a recovery."

For an analyst ratings summary and ratings history on 3M click here. For more ratings news on 3M click here.

Shares of 3M closed at $105.66 yesterday.

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