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Analysts’ Top Industrial Goods Picks: Caterpillar (CAT), 3M (MMM)

Tipranks - Tipranks - Tue Jun 2, 6:04AM CDT

There’s a lot to be optimistic about in the Industrial Goods sector as 2 analysts just weighed in on Caterpillar (CAT) and 3M (MMM) with bullish sentiments.

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Caterpillar (CAT)

In a report released today, Michael Feniger from Bank of America Securities maintained a Buy rating on Caterpillar, with a price target of $989.00. The company’s shares closed last Friday at $875.87.

According to TipRanks.com, Feniger is a 5-star analyst with an average return of 9.3% and a 62.2% success rate. Feniger covers the Industrial Goods sector, focusing on stocks such as Construction Partners, GFL Environmental, and Republic Services. ;'>

Currently, the analyst consensus on Caterpillar is a Moderate Buy with an average price target of $988.40, representing an 11.5% upside. In a report issued on May 22, Jefferies also maintained a Buy rating on the stock with a $1045.00 price target.

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3M (MMM)

Bank of America Securities analyst Andrew Obin maintained a Buy rating on 3M today and set a price target of $200.00. The company’s shares closed last Friday at $153.13, close to its 52-week high of $156.35.

According to TipRanks.com, Obin is a 5-star analyst with an average return of 20.4% and a 67.7% success rate. Obin covers the Industrial Goods sector, focusing on stocks such as Madison Air Solutions Corp. Class A, Applied Industrial Technologies, and Emerson Electric Company. ;'>

Currently, the analyst consensus on 3M is a Moderate Buy with an average price target of $174.27, a 14.3% upside from current levels. In a report issued on May 29, Barclays also maintained a Buy rating on the stock with a $185.00 price target.

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