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3M Downgraded at JP Morgan (MMM)
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.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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