JPMorgan Upgrades 3M (MMM) to Overweight
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(Updated - January 27, 2021 4:53 AM EST)
JPMorgan analyst Stephen Tusa Jr. upgraded 3M (NYSE: MMM) from Neutral to Overweight with a price target of $205.00 (from $183.00).
The analyst comments "We continue to view 3M as a high-quality, durable franchise with a strong R&D competency and best-in-class margins/ROIC. While we continue to believe there are structural concerns in the business model here and PFAS remains a concern, the stock is cheap and we don’t see evidence of enough of a structural change to justify such a discount. This is driving our Overweight rating."
Shares of 3M closed at $175.95 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Comments, Hot Upgrades, Upgrades
Related EntitiesJPMorgan, Stephen Tusa
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