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Fly News Breaks for December 23, 2019
MMM
Dec 23, 2019 | 06:44 EDT
JPMorgan analyst Stephen Tusa upgraded 3M to Neutral from Underweight with a price target of $150, up from $143. The stock closed Friday up $3.22 to $175.37. While PFAS chemicals litigation remains a risk, investor focus for the time being will shift towards fundamentals "as the relative earnings revision curve is probably more stable now," Tusa tells investors in a research note. This is helped by a potential uptick in electronics, says the analyst, who raised his 2020 estimates for 3M.
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