Morgan Stanley Reiterates Underweight on 3M, Maintains $100 Price Target
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Joshua Pokrzywinski has reiterated an Underweight rating on 3M (NYSE:MMM) and maintained a $100 price target.
July 14, 2023 | 2:47 pm
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3M's stock rating has been reiterated as Underweight by Morgan Stanley, with a maintained price target of $100.
The reiteration of an Underweight rating by a major financial institution like Morgan Stanley suggests that they believe 3M's stock is expected to underperform the market or its sector in the short term. This could potentially lead to a decrease in the stock's price. The maintained price target of $100 also indicates that the analyst believes the stock is currently overvalued, which could further pressure the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100