Deutsche Bank Reiterates 3M Buy (MMM)

Deutsche Bank reiterated its 3M MMM Buy rating in a research report published today. Deutsche Bank has previously given 3M a $100 price target.

In the report, Deutsche Bank states, "While we do not believe 3M's investor meeting changed any views amongst 3M's naysayers, the meeting was nonetheless positive with a solid Q1 update thru last Thursday, the situation in Japan (9% of sales) negative in the short-term but positive longer-term as rebuilding takes hold and clear evidence of management's growing confidence in its innovation driven growth strategy (robust 5-yr growth targets)."

Shares of 3M were trading at $89.48 in pre-market trading at the time of posting, up 0.89% from Thursday's market close.