Vertical Research Analyst Upgrades 3M Stock to 'Buy' with a $140 Target

Friday, 17 May 2024, 16:03
Vertical Research analyst, Jeffrey Sprague, recently upgraded 3M stock from 'hold' to 'buy' with a revised price target of $140, indicating a potential 33% upside. The upgrade is based on a risk/reward calculation favoring investment in light of 3M's restructuring program and increased cash flow prospects. Despite differing price targets, the stock is viewed as a value pick with the opportunity for growth under new CEO William Brown's leadership.
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Vertical Research Analyst Upgrades 3M Stock to 'Buy' with a $140 Target

Wall Street Analyst Boosts 3M Stock Outlook

The recent upgrade of 3M stock by Vertical Research analyst Jeffrey Sprague has prompted investor interest in the industrial company's future.

Sprague's Upgraded Price Target

Sprague's price target adjustment from $92 to $140 implies a 33% increase over the next year, signaling a positive outlook on 3M's performance.

3M's Growth Potential

  • Recovery Strategy: CEO William Brown's strategic focus on restructuring and growth initiatives could drive 3M towards improved financial health.
  • Financial Strength: With significant cash reserves from Solventum spinoff and increasing cash flow projections, 3M is positioned for sustained growth.

Despite varying analyst opinions, including JPMorgan's more conservative target, 3M is seen as a compelling investment choice with long-term prospects.

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