RBC Capital Raises 3M Price Target Maintains Underperform
🕓 Estimated Reading Time: 5 minutes Overview RBC Capital Markets has issued an updated assessment for industrial conglomerate 3M Co. (MMM), raising its 3M price target to $130 from the previous $120. Despite this upward adjustment in the valuation outlook, the firm notably opted to maintain its 'Underperform' rating on the stock, signaling continued caution regarding the company's near-term prospects. This move by RBC Capital rating reflects a nuanced perspective, acknowledging certain positive developments or valuation recalibrations while emphasizing persistent headwinds that could constrain share performance. Background & Context 3M, a diversified global technology company, has faced significant challenges in recent years, primarily stemming from substantial legal liabilities and ongoing operational pressures. These issues have cast a long shadow over the company's financial performance and investor sentiment. Prominent among these are the widespread litigatio...