3M Price Target Raised to $118.00 at Barclays Capital (MMM)
Investment analysts at Barclays Capital hoisted their price objective on shares of 3M (NYSE:MMM) from $110.00 to $118.00 in a note issued to investors on Monday, Analyst Ratings.Net reports. The firm currently has an “equal weight” rating on the stock. Barclays Capital’s price target points to a potential downside of 1.17% from the stock’s previous close.
Shares of 3M (NYSE:MMM) traded down 0.31% during mid-day trading on Monday, hitting $119.03. The stock had a trading volume of 1,014,510 shares. 3M has a 52-week low of $86.74 and a 52-week high of $122.27. The stock has a 50-day moving average of $117.2 and a 200-day moving average of $112.2. The company has a market cap of $81.353 billion and a price-to-earnings ratio of 18.69.
3M (NYSE:MMM) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.71 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.71. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.77 billion. During the same quarter in the prior year, the company posted $1.66 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis.
Several other analysts have also recently commented on the stock. Analysts at Sanford C. Bernstein raised their price target on shares of 3M from $115.00 to $127.00 in a research note to investors on Tuesday, August 13th. They now have a “market perform” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of 3M from $128.00 to $140.00 in a research note to investors on Friday, August 9th. They now have a “buy” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of 3M in a research note to investors on Monday, August 5th. They now have a $125.00 price target on the stock, up previously from $114.00. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $118.67.
3M Company (NYSE:MMM) is a diversified technology company with a presence in the industrial and transportation; health care; consumer and office; safety, security and protection services; display and graphics, and electro and communications businesses.
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