Analysts at UBS lowered its 2013 estimates for 3M Co (MMM) on Wednesday after the company’s third quarter outlook was weaker than expected.
UBS maintains at “Buy” rating for 3M with a price target of $100. The target is a 12.7% upside from Tuesday’s closing price of $88.73.
3M shares were up 29 cents, or +.34%, in morning trading on Wednesday.
The Bottom Line
Shares of 3M (MMM) have a 2.66% dividend yield, based on last night’s closing stock price of $88.73. The stock has technical support in the $84-$86 price area. If the shares can firm up, we see overhead resistance around the $92-$94 price levels.
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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