3M To Focus On Operations, Innovation To Revive Growth, Says New CEO
Portfolio Pulse from Michael Juliano
3M Co. (NYSE:MMM) is refocusing on operations and innovation under new CEO Bill Brown. Bank of America analyst Edwin Obin upgraded 3M shares from Neutral to Buy, raising the price target from $105 to $120. Brown's priorities include organic growth, operating efficiency, and supply-chain performance. With major litigation settlements behind, investors are expected to focus on the company's growth potential.
June 07, 2024 | 8:22 pm
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3M Co. (NYSE:MMM) is refocusing on operations and innovation under new CEO Bill Brown. Bank of America analyst Edwin Obin upgraded 3M shares from Neutral to Buy, raising the price target from $105 to $120. Brown's priorities include organic growth, operating efficiency, and supply-chain performance. With major litigation settlements behind, investors are expected to focus on the company's growth potential.
The upgrade from Neutral to Buy by a major analyst and the raised price target indicate positive sentiment towards 3M's future performance. The new CEO's focus on growth and operational efficiency, along with reduced litigation uncertainties, are likely to drive investor confidence and potentially increase the stock price in the short term.
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IMPORTANCE 90
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