3M price target lowered to $120 from $130 at Mizuho

Mizuho analyst Brett Linzey lowered the firm’s price target on 3M to $120 from $130 and keeps a Neutral rating on the shares. The company’s Q4 results were below expectations with a weak start to 2023 expected, the analyst tells investors in a research note. The firm says 3M is taking a "prudent, conservative approach," focusing on inventory normalization and aligning production with demand entering a "potentially turbulent" 2023.