3M price target raised to $115 from $95 at UBS

UBS analyst Chris Snyder raised the firm’s price target on 3M to $115 from $95 and keeps a Neutral rating on the shares after its Q2 earnings beat and guidance raise. The quarter showed signs of easing destock headwinds and improvement in underlying margins, the analyst tells investors in a research note. The firm adds that it sees 3M’s margin guide as conservative as it implies a step down in underlying operating margins despite improved productivity and easing supply chain and freight costs.