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3M’s Target, Estimates Boosted at Jefferies (MMM)

By Dividend.com,  June 07, 2012, 09:09:18 AM EDT

Diversified manufacturer 3M Co ( MMM ) on Thursday caught some continued bullish support from analysts at Jefferies & Co.

The firm maintained its "Buy" rating on MMM and lifted its price target to $108. That new target suggests a 28% upside to the stock's Wednesday closing price of $84.63.

Jefferies also boosted its earnings estimates for the company, citing increased confidence and consistency in its operating results.

3M shares were unchanged in premarket trading Thursday.

The Bottom Line
.Shares of 3M ( MMM ) have a 2.79% dividend yield, based on last night's closing stock price of $84.63. The stock has technical support in the $78-$80 price area. If the shares can firm up, we see overhead resistance around the $90 price level.

3M Co ( MMM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: MMM



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