Barclays Upgrades 3M to Equal-Weight, Raises Price Target to $107
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Julian Mitchell upgraded 3M (NYSE:MMM) from Underweight to Equal-Weight and increased the price target from $98 to $107, indicating a more favorable outlook on the company's stock.
December 04, 2023 | 10:20 am
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POSITIVE IMPACT
3M was upgraded by Barclays from Underweight to Equal-Weight with a raised price target from $98 to $107, suggesting improved prospects for the stock.
An upgrade by a major analyst like Barclays typically leads to a positive short-term reaction in the stock market as it reflects a more optimistic view of the company's future performance and valuation. The increase in the price target further reinforces this positive sentiment.
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IMPORTANCE 80
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