3M Upgraded by Bernstein Amid R&D Changes and Reduced PFAS Risk
Bernstein upgraded its rating for 3M (MMM) to Market Perform from Underperform, raising the price target to $171 from $145. The upgrade follows a revised understanding of the company's transformation efforts after recent discussions with management. The firm highlighted structural changes in research and development as well as lower-than-expected risks related to PFAS (perfluoroalkyl substances), which have been a regulatory concern for 3M. These factors contributed to Bernstein’s more positive outlook on the company’s future performance. Shares of 3M rose by 1.4% in Friday's trading, reflecting investor confidence following the upgrade.
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