CFRA analysts upgraded 3M (NYSE:MMM) to Strong Buy from Buy, raising the price target to $165 on the stock. The decision reflects growing confidence in the company’s strategic direction and potential to deliver enhanced shareholder value.
3M’s ongoing portfolio review aims to streamline its operations by divesting non-core assets and refocusing on higher-growth sectors. This strategic pivot positions the company to capitalize on market opportunities while optimizing its business structure for long-term success.
Since CEO Bill Brown took the reins, 3M has demonstrated encouraging progress in operational improvements and strategic alignment. Under his leadership, the company is navigating a transformative phase, setting the stage for accelerated growth and profitability. According to the analysts, these efforts are expected to yield margin enhancements, supported by broader restructuring initiatives.