3M price target raised to $165 from $162 at JPMorgan

JPMorgan raised the firm’s price target on 3M (MMM) to $165 from $162 and keeps an Overweight rating on the shares post the Q4 report. The quarter was mixed operationally, but in line in a period that does not matter as much as the forward outlook, the analyst tells investors in a research note. The firm says 3M managed through Q4 with less volatility than many had been expecting.