JPMorgan Upgrades 3M (MMM) to Overweight

January 27, 2021 2:36 AM EST
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Price: $198.58 +0.56%

Rating Summary:
    8 Buy, 11 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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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."

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 $175.95 yesterday.


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JPMorgan, Stephen Tusa