3M (MMM – Research Report), the Industrials sector company, was revisited by a Wall Street analyst yesterday. Analyst Stephen Tusa from J.P. Morgan maintained a Buy rating on the stock and has a $140.00 price target.
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Stephen Tusa has given his Buy rating due to a combination of factors that suggest a positive outlook for 3M’s stock. One of the key reasons is the recent resolution of PFAS-related claims in New Jersey, which reduces a significant portion of the company’s liability concerns. This settlement is seen as a step forward in addressing ongoing legal issues, thereby providing more certainty and potentially reducing the discount applied to 3M’s stock price.
Additionally, the easing of China tariffs is expected to have a favorable impact on 3M’s earnings. With the majority of the tariff impact stemming from China, the reduction in rates could lead to a notable upside in earnings per share. Furthermore, 3M’s productivity initiatives and strategic pricing efforts are anticipated to enhance margins and drive earnings growth beyond 2025. These factors collectively support a bullish view on 3M’s long-term potential, making the stock an attractive investment opportunity.
Tusa covers the Industrials sector, focusing on stocks such as 3M, Vertiv Holdings, and Carrier Global. According to TipRanks, Tusa has an average return of 12.9% and a 63.71% success rate on recommended stocks.
In another report released on May 13, Barclays also maintained a Buy rating on the stock with a $164.00 price target.
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