BofA analyst Andrew Obin lowered the firm’s price target on 3M to $100 from $110 and keeps a Neutral rating on the shares after the company received final approval for its settlement with Public Water Suppliers. The firm expected the settlement to be finalized, but views the development as a positive to resolving 3M’s PFAS liability. BofA says its Neutral rating balances 3M’s low valuation and improving execution with litigation risk.
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