Barclays upgrades 3M rating, raises PT

3M Co

04/12/2023 11:53

** Equity research firm Barclays raises PT for industrial bell
weather 3M Co  MMM.N  to $107 from $98, upgrading rating to
"equal-weight" from "underweight"
    ** The new price target represents a 7.16% upside to the
stock's last close
    ** Last week, 3M defeated a class action case that would
have allowed 11.8 million Ohio residents to sue the company for
the discharge of toxic chemicals in the environment
    ** 16 of 18 brokerages rate the co "hold" and 2 "sell";
median PT is $103
    ** YTD stock fell 16.74% vs. 9.35% rise in Dow Jones
Industrial Average Index  .DJI  

 (Reporting by Aishwarya Jain)
 ((Aishwarya.Jain@thomsonreuters.com))