Wolfe Research Upgrades 3M (MMM) to Peerperform

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Go back to Wolfe Research Upgrades 3M (MMM) to Peerperform

Morgan Stanley upgrades 3M (MMM) as liabilities narrow

August 31, 2023 2:59 PM EDT

Morgan Stanley upgraded 3M Co. (NYSE: MMM) to an Equal-weight rating (From Underweight) and raised their 12-month price target on the stock to $113.00 (From $102.00) as analyst Joshua Pokrzywinski sees the companys liabilities narrowing.

Pokrzywinski wrote in a note, We still believe the ultimate liabilities for PFAS and Combat Arms to be higher than the headline settlement amounts, however, as other avenues of PFAS litigation like wastewater, international water suppliers, and personal injury/property damage still... More