Market Overview

UPDATE: Morgan Stanley Upgrades 3M to Overweight; Safety Trade for Rebound From Slowdown

Related MMM
Earnings Scheduled For October 23, 2014
10 Stocks You Should Be Watching Today
Nasdaq Seen Rallying on Apple, Facebook Results (Fox Business)

Morgan Stanley raised its rating on 3M (NYSE: MMM) from Equal-Weight to Overweight and announced a price target of $102 on shares.

Morgan Stanley said, "3M is normally first to emerge from a slowdown/recession. We believe the “safety trade” aspect of the 3M story is largely understood, given its leverage to more stable Healthcare, Consumer & Security markets, geographic diversity, and limited CapEx exposure. Less recognized is that 3M's core growth can outperform during 2H12 as we emerge from the current mid-cycle slowdown, aided by over-exposure to highly cyclical Electronics verticals and EM – these factors could represent ~2ppts of tailwind in 2013 vs. EE/MI peers."

3M closed at $87.59 on Friday.

Latest Ratings for MMM

DateFirmActionFromTo
Oct 2014BarclaysMaintainsEqual-weight
Oct 2014Morgan StanleyMaintainsUnderweight
Sep 2014Stifel NicolausInitiates Coverage onHold

View More Analyst Ratings for MMM
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (MMM)

Around the Web, We're Loving...

Get Benzinga's Newsletters