3M Given Hold Rating at Deutsche Bank (MMM)
3M (NYSE:MMM)‘s stock had its “hold” rating reaffirmed by stock analysts at Deutsche Bank in a report issued on Friday. They currently have a $155.00 target price on the stock, up from their previous target price of $145.00. Deutsche Bank’s target price suggests a potential upside of 6.81% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of 3M in a research note on Friday. They now have a $146.00 price target on the stock, up previously from $145.00. Separately, analysts at Morgan Stanley raised their price target on shares of 3M from $130.00 to $135.00 in a research note on Thursday, July 10th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $143.50.
Shares of 3M (NYSE:MMM) traded down 0.01% during mid-day trading on Friday, hitting $145.12. The stock had a trading volume of 1,601,797 shares. 3M has a 1-year low of $112.36 and a 1-year high of $146.43. The stock’s 50-day moving average is $144.4 and its 200-day moving average is $137.7. The company has a market cap of $94.949 billion and a P/E ratio of 21.03. 3M also was the recipient of some unusual options trading activity on Thursday. Stock investors purchased 17,841 put options on the company. This represents an increase of 875% compared to the average daily volume of 1,830 put options.
3M (NYSE:MMM) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.91 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.91. The company had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same quarter in the previous year, the company posted $1.71 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts expect that 3M will post $7.47 EPS for the current fiscal year.
3M Company (NYSE:MMM) is a diversified technology company.
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