Sterne Agee Reiterates Buy Rating For MMM

Sterne Agee has published a report reiterating 3M Company's MMM Buy Rating.

Sterne Agee writes, “3M has set the stage for sales growth to reaccelerate throughout 2011 as op. margins return to normal levels of ~22%- 22.5%. Downside risks appear minimal and we expect 1Q11 EPS to validate 3M's large 2010 growth investments. We believe positive sales and EPS upside should lift shares about 25% in the current CEO's likely last full year at 3M.”

MMM has a $108 PT and closed yesterday at $88.69.