JP Morgan reported on Friday that they have downgraded technology company, 3M Co(MMM).
The firm has lowered their rating for MMM from “Neutral” to “Underweight,” and has given the company a $97 price target. This price target suggests a 1% upside from the stock’s current price of $96.
Analysts see the company lacking near term catalysts.
3M shares were down 89 cents, or -0.91% during premarket trading Friday. The stock has increased 16% in the past year.
The Bottom Line
Shares of 3M (MMM) have a 2.44% dividend yield, based on last night’s closing stock price of $96.89. The stock has technical support in the $90-$92 price area. The shares are trading near all-time highs.
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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