BofA raised the firm’s price target on 3M (MMM) to $179 from $175 and keeps a Buy rating on the shares. 3M has three remaining areas of potential legal liability, namely natural resource damage, personal injury, and Superfund sites, according to the analyst, who raised the firm’s price target on account of a lower net present value of liabilities. The firm attributes its Buy rating to 3M’s renewed focus on execution, gross margin expansion, and accelerating organic revenue growth.
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