BofA Securities analyst Andrew Obin maintains $3M (MMM.US)$ with a buy rating, and adjusts the target price from $143 to $160.
According to TipRanks data, the analyst has a success rate of 64.2% and a total average return of 12.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $3M (MMM.US)$'s main analysts recently are as follows:
3M's third quarter performance exceeded expectations, prompting management to adjust the lower range of its fiscal year 2024 earnings per share (EPS) outlook upwards. This performance maintains the forecast for 2024 at the higher end of the company's guidance.
The company's productivity initiatives are expected to unfold positively, yet the projections for earnings growth by 2025 suggest it might be subdued.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
