RBC Capital Maintains Underperform on 3M, Raises Price Target to $87
Portfolio Pulse from Benzinga Newsdesk
RBC Capital analyst Deane Dray has maintained an Underperform rating on 3M (NYSE:MMM) while raising the price target from $83 to $87.
January 24, 2024 | 4:04 pm
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NEUTRAL IMPACT
3M's stock maintains an Underperform rating by RBC Capital, but the price target has been raised from $83 to $87, indicating a slightly more positive outlook.
The increase in price target from $83 to $87 by RBC Capital suggests a slightly more optimistic view on 3M's stock value, but the Underperform rating indicates that the analyst still believes the stock will not perform as well as the broader market. This mixed signal could lead to a neutral short-term impact on the stock price as investors digest the implications of the revised price target against the backdrop of the Underperform rating.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100