3M stock price target cut at UBS, as company has some 'proving out' to do [MarketWatch]
3M Company (MMM)
Last 3m company earnings: 4/28 06:30 am
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investors.3m.com/overview/default.aspx
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Source: MarketWatch
3M stock price target cut at UBS, as company has some 'proving out' to do 3M Co.'s MMM, +2.41% stock price target was cut Friday to $182 from $201 by UBS analyst Damian Karas, who cited recent comments from the industrial, health-care and consumer products company about restructuring and continued deceleration in macro economic data. The cut comes about two weeks before 3M is scheduled to report second-quarter results, ahead of the July 25 open. Karas kept his rating at neutral. He said he believes 3M has some "proving out" to do: "After five guide-downs in five quarters, it is our view that investors will be hesitant to put new money to work in 3M until growth stabilizes and earnings again hit targets. The Q2 FactSet earnings-per-share consensus is $2.05, but that is down from a $2.64 consensus at the end of the first quarter. Meanwhile, the stock rallied 2.3% in afternoon trading, but has tumbled 20.4% over the past three months, while the Dow Jones Industrial Average DJIA, +0.8
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MMM
News
- 3M (NYSE: MMM) was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating.MarketBeat
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MMM
Earnings
- 1/23/24 - Beat
MMM
Sec Filings
- 4/4/24 - Form 8-K
- 4/4/24 - Form 8-K
- 3/29/24 - Form DEFA14A
- MMM's page on the SEC website