Barclays raised the firm’s price target on 3M (MMM) to $165 from $161 and keeps an Overweight rating on the shares following the Q4 report. The company’s operating margins “remain very lumpy” quarter-to-quarter, but its year-over-year operational earnings growth is steadier, the analyst tells investors in a research note. The firm says expectations are not low into the capital markets day, but the stock’s valuation remains inexpensive.
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