3M Given New $129.00 Price Target at Morgan Stanley (MMM)
Stock analysts at Morgan Stanley raised their price objective on shares of 3M (NYSE:MMM) from $128.00 to $129.00 in a report issued on Monday, AnalystRatingsNetwork.com reports. Morgan Stanley’s target price points to a potential downside of 5.05% from the company’s current price.
3M (NYSE:MMM) traded down 0.58% on Monday, hitting $135.07. The stock had a trading volume of 1,769,605 shares. 3M has a one year low of $102.89 and a one year high of $140.43. The stock’s 50-day moving average is $133.0 and its 200-day moving average is $129.4. The company has a market cap of $89.510 billion and a P/E ratio of 20.22.
3M (NYSE:MMM) last announced its earnings results on Friday, January 31st. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.01. The company had revenue of $7.60 billion for the quarter, compared to the consensus estimate of $7.70 billion. On average, analysts predict that 3M will post $7.45 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at EVA Dimensions upgraded shares of 3M from an “overweight” rating to a “buy” rating in a research note on Friday, March 7th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of 3M in a research note on Tuesday, February 4th. They now have a $134.00 price target on the stock. Finally, analysts at Deutsche Bank cut their price target on shares of 3M from $143.00 to $140.00 in a research note on Friday, January 31st. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. 3M currently has an average rating of “Buy” and an average target price of $139.00.
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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