.Friday, July 29, 2024 5:00 PM

Deutsche Bank analysts upgraded 3M (NYSE:MMM) to Buy from Hold, with a new price target of $150, up from $110, following strong Q2 earnings results.

The upgrade was influenced by the appointment of CEO Bill Brown in March, who has received positive feedback for his leadership skills and strategic vision.

Brown aims to increase 3M’s adjusted operating margins to the mid-20s, aligning with industry peers and driving share price outperformance.

Analysts see significant growth potential for 3M, with an attractive 18% upside to the new price target of $150, justifying the Buy rating.