Equities researchers at Barclays Capital upped their price target on shares of 3M (NYSE:MMM) from $103.00 to $110.00 in a research report issued on Friday, StockRatingsNetwork reports. The firm currently has an “equal weight” rating on the stock. Barclays Capital’s price target suggests a potential downside of 5.67% from the stock’s previous close.
3M (NYSE: MMM) traded down 0.26% on Friday, hitting $116.61. 3M has a 1-year low of $86.74 and a 1-year high of $117.30. The stock’s 50-day moving average is currently $112.4. The company has a market cap of $79.699 billion and a price-to-earnings ratio of 18.30.
3M (NYSE:MMM) last released its earnings data on Thursday, July 25th. The company reported $1.71 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.71. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.77 billion. During the same quarter in the previous year, the company posted $1.66 earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. 3M has set its FY13 guidance at $6.60-6.85 EPS. Analysts expect that 3M will post $6.70 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at FBR Capital Markets raised their price target on shares of 3M from $110.00 to $127.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of 3M in a research note to investors on Thursday, July 11th. Finally, analysts at TheStreet reiterated a “buy” rating on shares of 3M in a research note to investors on Monday, July 1st.
Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $111.07.
3M Company (NYSE: MMM) is a diversified technology company with a presence in the industrial and transportation; health care; consumer and office; safety, security and protection services; display and graphics, and electro and communications businesses.
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