3M Analyst Moves To 'Outperform' On Strong EPS Outlook
Portfolio Pulse from Vaishali Prayag
Wolfe Research has upgraded 3M Company (NYSE:MMM) from 'Peer Perform' to 'Outperform' with a year-end 2024 price target of $125 per share. The upgrade is driven by the appointment of Bill Brown as CEO and a positive EPS outlook. Despite challenges, 3M's valuation is seen as attractively discounted.
June 13, 2024 | 9:48 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Wolfe Research has upgraded 3M Company to 'Outperform' with a $125 price target for 2024, driven by the appointment of Bill Brown as CEO and a strong EPS outlook. Despite legal liabilities and modest growth trends, 3M's valuation is seen as attractively discounted.
The upgrade to 'Outperform' and the new price target of $125 per share are significant positive signals for investors. The appointment of Bill Brown as CEO is expected to drive operational improvements and profitability. Despite existing challenges, the analyst's confidence in 3M's valuation and future EPS growth supports a positive short-term impact on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100