Wells Fargo Maintains Equal-Weight on 3M, Lowers Price Target to $105
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Joe O'Dea has maintained an Equal-Weight rating on 3M (NYSE:MMM) but has reduced the price target from $112 to $105.
January 24, 2024 | 3:08 pm
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NEGATIVE IMPACT
Wells Fargo analyst Joe O'Dea maintains an Equal-Weight rating on 3M but lowers the price target from $112 to $105, indicating a potential downside compared to the previous target.
The reduction in the price target by Wells Fargo suggests that the analyst sees less upside potential for 3M's stock price in the short term. This could lead to a negative investor sentiment and a potential decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100