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Fly News Breaks for April 25, 2018
MMM
Apr 25, 2018 | 08:10 EDT
RBC Capital analyst Deane Dray lowered his price target on 3M to $227 and kept his Underperform rating after the company's Q1 earnings miss. Dray points to softness in auto original equipment and aftermarket as well as oral care products, along with losses on FX hedges and higher raw materials inflation, but adds that it is still difficult to call the slowdown a "negative macro inflection".
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