3M Company (NYSE: MMM)‘s stock had its “hold” rating reaffirmed by Deutsche Bank (NYSE: DB) in a research note issued on Monday. They currently have a $95.00 price target on the stock.
The analysts wrote, “We see limited upside potential to valuation due to economic weakness in Europe, moderating growth trends in emerging markets, and a more challenging path toward achieving the company’s growth targets following the departure of an intensely innovation-focused CEO. We believe downside is limited by its leverage to improving industrial demand trends (3M tends to lead changes in industrial production IP at a rate 3x the change in IP).”
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group (NYSE: JEF) raised their price target on shares of 3M Company from $102.00 to $108.00 in a research note to investors on Wednesday, April 25th. Separately, analysts at Nomura (NYSE: NMR) reiterated a “reduce” rating on shares of 3M Company in a research note to investors on Wednesday, April 25th. Finally, analysts at UBS AG (NYSE: UBS) raised their price target on shares of 3M Company from $95.00 to $100.00 in a research note to investors on Wednesday, April 25th. They now have a “buy” rating on the stock.
Shares of 3M Company remained flat at $89.36 during during mid-day trading trading on Monday. 3M Company has a one year low of $68.63 and a one year high of $98.19. The company has a market cap of $62.004 billion and a P/E ratio of 14.75.
The company last announced its quarterly results on Tuesday, April 24th. It reported $1.59 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $1.48 EPS by $0.11. The company’s quarterly revenue was up 2.4% on a year-over-year basis. On average, analysts predict that 3M Company will post $1.67 earnings per share next quarter.
3M Company (3M) is a diversified technology company with presence in the industrial and transportation; health care; consumer and office; safety, security and protection services; display and graphics, and electro and communications businesses.
