3M (MMM) PT Lowered to $170 at Mizuho Securities

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Go back to 3M (MMM) PT Lowered to $170 at Mizuho Securities

3M (MMM) Stock Plunges on Morgan Stanley Downgrade to Underweight, Analyst Says Improving Fundamentals Not Enough to Offset Rising Liabilities

February 17, 2022 10:17 AM EST

Morgan Stanley analyst Joshua Pokrzywinski cut 3M (NYSE: MMM) to Underweight from Equal Weight with a $150.00 per share price target (down from $185.00).

A key driver behind the downgrade is the Combat Arms ear protection liabilities, estimated at $14 billion by Pokrzywinski. The bull case is $2 billion while the bear case is... More