3M price target lowered to $160 from $175 at Wells Fargo

Wells Fargo analyst Joseph O’Dea lowered the firm’s price target on 3M (MMM) to $160 from $175 and keeps an Overweight rating on the shares. The Middle East conflict didn’t drive an elevated level of caution in most of the firm’s catch-up calls. But just like tariffs sidelined a PMI recovery last year, Wells is cautious that a new source of uncertainty dampens sentiment until there’s better clarity.