J.P. Morgan Reiterates Neutral Rating On 3M (MMM)

J.P. Morgan analysts released a company note on 3M MMM today after meeting with management. The company has pre-announced 2Q sales in the range of $6.6-$6.75 billion, which is above Street estimates of $6.56 billion. According to 3M management, business strength remains in both Asian and Latin America. They were cautious, however, on the economy going into the second half of 2010. J.P. Morgan has maintained its Neutral rating on the stock. The analysts have a price target of $93.00 on the shares. During the current session, MMM has gained 1.12% to $79.37. 3M Company (3M) is a diversified technology company with a global presence in industrial and transportation; health care; consumer and office; safety, security and protection services; display and graphics, and electro and communications.