In a report published Thursday, Morgan Stanley analyst Nigel Coe reiterated an Underweight rating on 3M Co. MMM, but lowered the price target from $138.00 to $135.00.
In the report, Morgan Stanley noted, “We see a more challenging 2H and 2015 set-up for MMM driven by sluggish global growth and incremental cost pressures from F/X and pension. We expect the initial 2015 guidance range to come in below consensus, which could drive de-rating. We lower our PT to $135 vs. prior $138.”
3M Co. closed on Wednesday at $139.18.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in