3M PT Raised to $135.00 at Morgan Stanley (MMM)
Stock analysts at Morgan Stanley increased their price target on shares of 3M (NYSE:MMM) from $130.00 to $135.00 in a report issued on Thursday. Morgan Stanley’s target price would suggest a potential downside of 6.18% from the company’s current price.
Shares of 3M (NYSE:MMM) traded down 0.55% during mid-day trading on Thursday, hitting $143.89. The stock had a trading volume of 2,070,061 shares. 3M has a 52-week low of $112.36 and a 52-week high of $145.73. The stock’s 50-day moving average is $143.5 and its 200-day moving average is $137.1. The company has a market cap of $94.144 billion and a P/E ratio of 20.97.
3M (NYSE:MMM) last announced its earnings results on Thursday, April 24th. The company reported $1.79 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.80 by $0.01. The company had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.96 billion. During the same quarter last year, the company posted $1.61 earnings per share. 3M’s revenue was up 2.6% compared to the same quarter last year. Analysts expect that 3M will post $7.46 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. upgraded shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday. Separately, analysts at Argus upgraded shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of 3M in a research note on Friday, April 25th. They now have a $145.00 price target on the stock. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. 3M presently has an average rating of “Buy” and an average price target of $142.36.
3M Company (NYSE:MMM) is a diversified technology company.
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