3M price target lowered to $125 from $130 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on 3M (MMM) to $125 from $130 and keeps an Underweight rating on the shares. 3M spoke to demand stability given healthy Q1 orders, the firm believes the pickup in organic growth over the last two quarters was a function of tariff pull forward. This would signal downside versus consensus modeling and management guidance that calls for acceleration in the coming quarters, the analyst argues.