UPDATE: Citi Downgrades 3M (MMM) to Neutral on Lingering Overhang

(update comment)

Citi analyst Andrew Kaplowitz downgraded 3M (NYSE: MMM) from Buy to Neutral with a price target of $180.00.

The analyst comments "For MMM, we downgrade to Neutral from Buy ($180 PT unchanged); while we think MMM’s shorter-cycle end markets could be closer to a bottom and execution seems poised to improve, growing PFAS-litigation related risks could be a lingering overhang that prevents a re-rating to its former premium multiple."

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 $171.47 yesterday.

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