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Wells Fargo Remains a Buy on 3M (MMM)

Tipranks - Tipranks - Fri Jun 12, 4:44AM CDT

Wells Fargo analyst Joe O’Dea maintained a Buy rating on 3M yesterday and set a price target of $165.00. The company’s shares closed yesterday at $156.85.

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According to TipRanks, O’Dea is a 5-star analyst with an average return of 9.9% and a 58.29% success rate. O’Dea covers the Industrials sector, focusing on stocks such as 3M, Hubbell B, and Dover.

The word on The Street in general, suggests a Hold analyst consensus rating for 3M with a $168.81 average price target, implying a 7.63% upside from current levels. In a report released on June 1, Bank of America Securities also maintained a Buy rating on the stock with a $200.00 price target.

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Based on 3M’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $6.03 billion and a net profit of $653 million. In comparison, last year the company earned a revenue of $5.95 billion and had a net profit of $1.12 billion

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