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Jefferies Boosts 3M Price Target, Earning Estimates (MMM)
On Thursday analysts at Jefferies increased the price target and earning estimates of 3M Co (MMM
), adjusting for the recent acquisition of Ceradyne.
The analysts now see shares of 3M reaching $110, a +16% upside to Wednesday’s closing price of $94.78. The firm maintains a “Buy” rating on the diversified products manufacturer.
3M shares were down 15 cents, or -0.16%, during morning trading on Thursday.
The Bottom Line
Shares of 3M (MMM) have a 2.49% dividend yield, based on last night’s closing stock price of $94.78. The stock has technical support in the $87-$88 price area. The stock is 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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