3M price target raised to $165 from $160 at JPMorgan

JPMorgan raised the firm’s price target on 3M (MMM) to $165 from $160 and keeps an Overweight rating on the shares. The company’s Q3 report was solid with upside on margins and stable sales that are set to accelerate modestly, the analyst tells investors in a research note. The firm feels it is too early to take profits in the shares and sees a buying opportunity at current levels.