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Analysts Are Bullish on Top Industrial Goods Stocks: 3M (MMM), Johnson Controls (JCI)

Tipranks - Tipranks - Mon Jun 8, 7:56PM CDT

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

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3M (MMM)

Wells Fargo analyst Joe O’Dea maintained a Buy rating on 3M on June 5 and set a price target of $165.00. The company’s shares closed last Friday at $153.76, close to its 52-week high of $156.35.

According to TipRanks.com, O’Dea is a 5-star analyst with an average return of 10.4% and a 58.8% success rate. O’Dea covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Lennox International. ;'>

Currently, the analyst consensus on 3M is a Moderate Buy with an average price target of $174.21, a 13.4% 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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Johnson Controls (JCI)

In a report issued on June 5, Andrew Obin from Bank of America Securities maintained a Buy rating on Johnson Controls, with a price target of $152.00. The company’s shares closed last Friday at $143.65.

According to TipRanks.com, Obin is a 5-star analyst with an average return of 20.3% 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. ;'>

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Johnson Controls with a $160.93 average price target, implying a 10.4% upside from current levels. In a report issued on June 2, UBS also maintained a Buy rating on the stock with a $180.00 price target.

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