3M Company (NYSE:MMM) Target Increased
In analysts report revealed to investors by Morgan Stanley on Monday morning, 3M Company (NYSE:MMM) had its PT upgraded to $193.00. The firm currently has “Underweight” rating on the Stock.
The target increase is well received by stock investors, as NYSE:MMM is currently trading 0.22% higher at $207.39 as of 8:29 AM New York time. 3M Company shares have [From2] 0% over the past 200 days, while the Standard & Poor’s 500 index has risen 6.00% in the same time period.
Out of 16 analysts covering 3M Company, 7 rate it a Buy, 9 indicate a Hold while 3 suggest a Sell. The highest target is $190 and the lowest is $134 according to Thomson/First Call. The 12-month mean target is $163.38, which means downside potential of 21.22% over the current price.
Spinnaker Trust had the biggest stake with ownership of 669,150 shares as of Q2 2015 for 15.66% of the long Stock Exposure. Somerset Group Llc is another very bullish investment professional who is having 75,414 shares of 3M Company or 13.64% of their long stock exposure. In addition, White Pine Capital Llc have 12.17% of their long stock exposure invested in the company for 161,968 shares. The Georgia-based fund Atlanta Capital Group disclosed it had acquired a stake worth about 9.93% of the investment professional’s stock portfolio in 3M Company. The Ohio-based fund Cincinnati Specialty Underwriters Insurance Co is also positive about the stock, possessing 264,978 shares or 8.13% of their long stock exposure.
3M Company (NYSE:MMM) Profile
3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction.
3M Company (NYSE:MMM) traded up 0.22% on 12 June, hitting $207.39. A total of 2.39 million shares of the company’s stock traded hands. This is up from average of 1.86 million shares. 3M Company has a 52 week low of $163.85 and a 52 week high of $208.42. The company has a market cap of $124.46 billion and a P/E ratio of 25.08.
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