What Was Behind Bernstein’s 3M Upgrade, And Why It Isn’t a Buy?
3M Company (NYSE:MMM) gained 1.4% on September 26, after Bernstein upgraded the stock from Underperform to Market Perform and raised its price target from $145 to $171. Analyst Varun Govindaraj pointed to a refreshed understanding of the company’s transformation after a recent meeting with management. The thesis now includes an R&D “factory” model, a short-cycle […]
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