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MMM

3M

$199.98

-4.2 (-2.06%)

10:28
06/19/18
06/19
10:28
06/19/18
10:28

Technical Take: 3M falls, could soon test 52-week lows

The stock was last down over 2.8% to $198.43, making it one of the larger-losers among big industrial names. At that price the 52-week low at $191.44 is not far away on a percentage basis and could be tested this week. Resistance at current price is at the opening price of the day at $201.26.

MMM 3M
$199.98

-4.2 (-2.06%)

06/08/18
SBSH
06/08/18
NO CHANGE
Target $263
SBSH
Buy
3M growth should 'register solidly' within guidance, says Citi
In a research note titled "Brite Days Ahead for 3M," Citi analyst Andrew Kaplowitz says 3M remains the same company that earlier in the year hit relative valuation highs on the strength of its core brands and innovation. Further, management's business transformation efforts continue to improve the company, Kaplowitz writes. He is confident that 3M's core growth should "register solidly" within the company's 3%-4% 2018 guidance despite more difficult second half comparisons. He keeps a Buy rating on the shares with a $263 price target.
05/16/18
05/16/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. 3M (MMM) downgraded to Hold from Buy at Jefferies with analyst Laurence Alexander saying he sees less room for multiple expansion in a rising interest rate environment and feels the risk/reward "looks increasingly challenging at this point." 2. Vipshop (VIPS) downgraded to Sector Weight from Overweight at KeyBanc with analyst Hans Chung saying he sees uncertainties around Tencent (TCEHY) and JD.com (JD) contributions ahead, which drove high expectations for the top-line growth and multiple expansion, and sees margin pressure likely to continue driven by sector competition and the company's hike in marketing expenses to grow new customer organically. 3. PPG (PPG) downgraded to Hold from Buy at Jefferies with analyst Laurence Alexander saying persistent concerns over pricing lagging higher oil-derived raw material costs, end market risk and the reliance on buybacks to protect earnings growth could "easily" move PPG's relative multiple to 10%-15% below the market over the next two years. 4. BT Group (BT) downgraded to Market Perform from Outperform at Bernstein. 5. F5 Networks (FFIV) downgraded to Neutral from Buy at DA Davidson with analyst Mark Kelleher saying the positive factors working in the company's favor, such as its ongoing new iSeries product cycle, high gross margins, strong cash flows, and the application of it security solutions have become increasingly more evident after its last earnings report and have since been reflected in the valuation on the stock. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/16/18
JEFF
05/16/18
DOWNGRADE
Target $220
JEFF
Hold
3M downgraded to Hold from Buy at Jefferies
Jefferies analyst Laurence Alexander downgraded 3M to Hold and lowered his price target for the shares to $220 from $250. The analyst sees less room for multiple expansion in a rising interest rate environment and feels the risk/reward "looks increasingly challenging at this point."
05/07/18
WBLR
05/07/18
NO CHANGE
WBLR
Outperform
William Blair says new competition does not change outlook on Align
There were a number of new product introductions this weekend at the American Association of Orthodontists Conference that will compete with Align Technology's (ALGN) Invisalign, William Blair analyst John Kreger tells investors in a research note. These include products from 3M (MMM) and Henry Schein (HSIC), as well as Dentsply Sirona's (XRAY) SureSmile offering, the analyst adds. He views the product offerings as largely in line with expectations, noting that his fundamental outlook on Align has not changed. Investors were well aware of looming competition, specifically from 3M, and the capabilities of the products introduced at the show were largely in line with expectations, Kreger contends. He continues to expect that clear aligners will take share from wires and brackets and maintains an Outperform rating on Align Technology.

TODAY'S FREE FLY STORIES

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CPSI

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AIMC

Altra Industrial Motion

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0.57 (1.76%)

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GTBIF

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CVS

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TGODF

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$0.00

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DHI

D.R. Horton

$39.87

-0.58 (-1.43%)

, LEN

Lennar

$48.96

-0.42 (-0.85%)

07:20
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07:20
Downgrade
D.R. Horton, Lennar rating change  »

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DHI

D.R. Horton

$39.87

-0.58 (-1.43%)

LEN

Lennar

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HSC

Harsco

$21.94

0.11 (0.50%)

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  • 21

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CURLF

Curaleaf Holdings

$0.00

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LEN

Lennar

$48.96

-0.42 (-0.85%)

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HSC

Harsco

$21.94

0.11 (0.50%)

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CAJ

Canon

$29.12

0.02 (0.07%)

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VALE

Vale

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, BHP

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NEM

Newmont Mining

$35.37

0.83 (2.40%)

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MIC

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$43.17

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HSC

Harsco

$21.94

0.11 (0.50%)

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ACB

Aurora Cannabis

$7.06

0.15 (2.17%)

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WIX

Wix.com

$111.18

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ROKU

Roku

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SAM

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X

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