Stifel Raises Price Target on 3M Co. (MMM) Following Analyst Day

Stifel reiterated a Hold rating on 3M Co. (NYSE: MMM), and raised the price target to $186.00 (from $175.00), following the company's analyst day.

Analyst Robert McCarthy commented, "December 13, 2016, MMM hosted a relatively upbeat, well-attended analyst day in NYC (150 plus buyside + sellside). Inge Thulin explained his vision for the company, girded by the six strategies articulated first in 2012 around growth, business transformation, and increased dynamic capital redeployment. Presentations centered on Industrial, Healthcare, and Electronics and Energy businesses. 3M reiterated its growth goal of ~1.5x industrial production and the long-term targets from late March Analyst Day. 40% of sales in the U.S. are in infrastructure and manufacturing as 3M is the supplier for many of the country's infrastructure growth needs."

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 $178.83 yesterday.

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