RBC Capital Upgrades 3M (MMM) to Sector Perform

RBC Capital upgraded 3M (NYSE: MMM) from Underperform to Sector Perform with a price target of $171.00 (from $155.00) on more balanced risk/reward.

Analyst Deane Dray commented, "We are upgrading MMM from Underperform to Sector Perform as the initial fallout from Trump-onomics has compressed the stock’s relative P/E valuation to below its historical midpoint, making risk-reward more balanced. We believe 3M’s global revenue mix and healthcare exposures could still see pressures from the new Trump initiatives, but the improved macro and recent underperformance should limit relative downside from here. Our price target rises to $171 from $155."

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 $171.80 yesterday.

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