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New CEO, Bottoming Cycle, And Spin-Off Fuel Optimism For 3M, Analyst Upgrades Stock

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Barclays analyst Julian Mitchell upgraded 3M Company (NYSE:MMM) to Overweight from Equal Weight and raised the price target to $126 from $111.

The analyst is bullish on the stock partly due to a smaller headwind from estimated / unannounced non-debt / environmental liabilities. 

Also, the analyst said that the appointment of a new CEO (due to start in May) will likely yield a portfolio review and additional productivity 

Full story available on Benzinga.com

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