3M price target raised to $160 from $143 at BofA

BofA analyst Andrew Obin raised the firm’s price target on 3M (MMM) to $160 from $143 and keeps a Buy rating on the shares following what the firm describes as a “solid” Q3 beat and raise report. Management raised the low end of its FY24 EPS outlook to $7.20-$7.30 from $7.00-$7.30, notes the firm, which maintains its 2024 EPS forecast at $7.30, the high end of 3M’s guidance.