Why 3M Stock Traded Higher Today
Portfolio Pulse from Ryan Gustafson
3M Co (NYSE:MMM) shares traded higher after Morgan Stanley upgraded the stock from Underweight to Equal-Weight following the company's earplug settlement. The price target was also raised from $102 to $113. The analyst noted a more balanced risk/reward for the company and anticipated the total liability to be roughly $18 billion in the bear case, $8.6 billion in the base case, and $5.3 billion in the bull case.
August 31, 2023 | 10:00 pm
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POSITIVE IMPACT
3M's stock traded higher after an upgrade from Morgan Stanley. The analyst sees a more balanced risk/reward scenario for the company following recent settlements.
The upgrade from Morgan Stanley and the increase in the price target are positive signals for 3M's stock. The analyst's comments about a more balanced risk/reward scenario following the company's recent settlements also suggest a more positive outlook for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100