1 Wall Street Analyst Thinks 3M Stock Is Going to $120. Is It a Buy?
3M(MMM) The Motley Fool·2024-06-12 00:40
Wall Street is warming to the industrial giant's investment proposition as a new CEO seeks to improve the company's growth rate.Bank of America Securities recently upgraded 3M (MMM -0.05%), with analyst Andrew Obin changing the stock to a buy rating from neutral and hiking his share price target to $120 from $105. This represents a more than 19% premium over the next 12 months to the current stock price.3M initiated some derisking actionsThe key to the investment case for the stock involves recognizing that ...