3M price target lowered to $141 from $146 at Mizuho

Mizuho analyst Brett Linzey lowered the firm’s price target on 3M (MMM) to $141 from $146 and keeps a Neutral rating on the shares. The firm reduced electrical equipment and multi-industry estimates heading into earnings season to account for near-term demand slowing and tariff implications on financial results. While Q1 checks were generally tracking in line, little investor focus is being placed on Q1 “given the influx of recent developments,” the analyst tells investors in a research note. Mizuho says tariff escalation, particularly on China, “will sting.” Corporates are already proactively raising price, but Mizuho expects “some leakage and unmitigated headwinds,” the analyst adds.