Deutsche Bank Analysts Downgrade 3M Company Shares to “Hold” (MMM)

3M Company (NYSE: MMM) was downgraded by investment analysts at Deutsche Bank (NYSE: DB) from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Separately, analysts at Nomura (NYSE: NMR) reiterated a “reduce” rating on shares of 3M Company in a research note to investors on Friday, January 27th. Analysts at Jefferies Group (NYSE: JEF) raised their price target on shares of 3M Company to $102.00 in a research note to investors on Friday, January 27th. They now have a “buy” rating on the stock. Also, analysts at Goldman Sachs (NYSE: GS) downgraded shares of 3M Company from a “neutral” rating to a “neutral” rating in a research note to investors on Wednesday, January 11st.

3M Company (3M) is a diversified technology company with a presence in industrial and transportation; health care; display and graphics; consumer and office; safety, security and protection services, and electro and communications. 3M manages its operations in six operating business segments: industrial and transportation; health care; display and graphics; consumer and office; safety, security and protection services, and electro and communications. 3M products are sold through numerous distribution channels. In February 2011, 3M (industrial and transportation business) announced that it completed its acquisition of the tape-related assets of Alpha Beta Enterprise Co. Ltd. In February 2011, it acquired Hybrivet Systems Inc. In April 2011, it acquired Original Wraps Inc. In July 2011, it acquired Advanced Chemistry & Technology Inc. In October 2011, the Company acquired do-it-yourself and professional business of GPI Group.

3M Company opened at 87.14 on Thursday. 3M Company has a 52-week low of $68.63 and a 52-week high of $98.19. The stock has a 50-day moving average of $85.24 and a 200-day moving average of $80.80. The company has a market cap of $60.560 billion and a price-to-earnings ratio of 14.77.

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Posted by Web Inquirer Staff on 11 Feb 2012. Filed under Markets. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.