- UBS analyst Markus Mittermaier lowered 3M Co MMM price target to $172 (implying a downside of 5.78%) from $183 and maintained a Sell rating on the shares.
- Mittermaier cites intensifying sales and margin pressure from supply chain constraints and price and cost headwinds for the company, also cutting his operating margin view to 19.3% from 21.5%.
- Additionally, he says that September tends to be the most important month of the quarter for 3M and sees some risk that further downward revisions may be necessary.
- Price Action: MMM shares are trading lower by 0.65% at $181.47 during the pre-market session on Friday.
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