Diversified manufacturer 3M Co. (MMM) on Tuesday received some mixed commentary from analysts at Barclays Capital.
The firm reiterated its “Equalweight” rating and $95 price target on MMM, which suggests an 11% upside to the stock’s Monday closing price of $85.85.
Although the Barclays analyst said 3M’s new CEO Inge Thulin was “refreshing,” he doesn’t see any near-term catalysts for the company. Still, the analyst noted he’s turned more positive on the stock amid the management change.
3M shares were mostly flat in premarket trading Tuesday.
The Bottom Line
Shares of 3M (MMM) have a 2.75% dividend yield, based on last night’s closing stock price of $85.85. The stock has technical support in the $78-$80 price area. If the shares can firm up, we see overhead resistance around the $90 price level.
3M Co. (MMM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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