Seeking Alpha

Jefferies lifts 3M price target

  • Jefferies reiterates a Buy on shares of 3M (MMM) and raises the price target to $140 (from $128).
  • Analyst Laurence Alexander says a 15-20% premium to the S&P is "sustainable" given the company's "5.7% free cash flow yields, robust balance sheet, and short-cycle business model."
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