3M falls after Morgan Stanley downgrade

3M (MMM -3.4%) "tends to show below-average core growth in cyclical upswings," Morgan Stanley's Nigel Coe says, downgrading the shares to Underweight from Equalweight.

"We expect the company to underperform EE/MI peers over the next two years, as we enter the reacceleration phase of this mid cycle slowdown, limiting operating leverage, with margins at peakish levels," Coe adds.

Price target cut to $122 from $123.

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Comments (2)
  • curreyr
    , contributor
    Comments (730) | Send Message
    Seriously, a price target cut of $1 ...
    2 Dec 2013, 04:47 PM Reply Like
  • jeanewight
    , contributor
    Comments (344) | Send Message
    I seriously can't listen to these so called analysts. I'm tired of the BS
    2 Dec 2013, 07:30 PM Reply Like
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