Morgan Stanley Upgrades 3M (MMM) to Equalweight
Morgan Stanley analyst Joshua Pokrzywinski upgraded 3M (NYSE: MMM) from Underweight to Equalweight with a price target of $113.00 (from $102.00).
The analyst comments "3M's liabilities are likely to grow but look better discounted into shares. We see balanced but still wide risk/reward where bear case equity value is limited to the Healthcare spin. Improving fundamentals, achievable consensus margins, and sentiment with room to improve support a bull case."
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 $104.45 yesterday.