3M price target raised to $100 from $95 at RBC Capital

RBC Capital raised the firm’s price target on 3M to $100 from $95 but keeps an Underperform rating on the shares. The company reported a broad-based Q2 operating earnings beat but did not flow the upside to 2023 guidance, implying a 4.5% below-consensus results in the second half of the year, with macro challenges that include electronics, consumer, biopharma, and China, the analyst tells investors in a research note.