According to The Fly, in a report released today, Julian Mitchell from Barclays maintained a Sell rating on 3M Company (NYSE: MMM), with a price target of $210. The company’s shares closed yesterday at $201.13, close to its 52-week low of $45.36.
Mitchell noted:
“Barclays analyst Julian Mitchell lowered his price target for 3M to $220 saying short-cycle concerns may not abate in the near-term following yesterdays Q1 results. The short-cycle has slowed, but there may be further to go, Mitchell tells investors in a post-earnings research note. The analyst keeps an Underweight rating on 3M shares.”
According to TipRanks.com, Mitchell is a 5-star analyst with an average return of 11.4% and a 68.4% success rate. Mitchell covers the Industrial Goods sector, focusing on stocks such as Gardner Denver Holdings Inc, Emerson Electric Company, and United Technologies Corp.
3M Company has an analyst consensus of Moderate Buy, with a price target consensus of $249.
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The company has a one-year high of $259.77 and a one-year low of $192.36. Currently, 3M Company has an average volume of 2.84M.
Based on the recent corporate insider activity of 132 insiders, corporate insider sentiment is negative on the stock.
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