3M price target raised to $165 from $160 at Wells Fargo

Wells Fargo analyst Joseph O’Dea raised the firm’s price target on 3M (MMM) to $165 from $160 and keeps an Overweight rating on the shares. The firm notes Q1 organic was light on both T&E and Consumer headwinds, while strong orders support growth acceleration in Q2, with focus on sustained better growth in the second half of the year.