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.

From other sites
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
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs