RBC cuts 3M PT on risks from Omicron variant, inflation
20/01/2022 09:50
** Brokerage RBC cuts 3M Co's MMM.N PT to $155 from $166,
citing risks from the Omicron variant, inflation, supply chain
disruptions and labor shortages
** RBC had downgraded MMM to "underperform" on Jan. 4 on
mounting operating and legal challenges in 2022
** "We remind investors that 3M negatively trimmed its
quarterly organic guidance at a competitor conference on Dec. 2"
- RBC
** Brokerages says co not likely to provide 2022 guidance
with earnings on a call scheduled for Feb. 14
** 3 of 24 brokerages rate the stock "buy" or higher, 15
"hold" and 6 "sell" or lower; their median PT is $187.5
** MMM shares gained 1.6% in 2021
(Reporting by Kannaki Deka in Bengaluru)
((Kannaki.Deka@thomsonreuters.com))