3M downgraded to "hold" - update

07.03.06 - A.G. Edwards & Sons

NEW YORK, March 7 (newratings.com) - Analysts at AG Edwards downgrade 3M Company (MMM) from "buy" to "hold."

In a research note published yesterday, the analysts mention that company possesses lesser potential for operating margin expansion than its peers. 3M is unlikely to achieve even 5% revenue growth in local currency in the current fiscal year, the analysts say. The company?s is key optical films division witnessing a challenging environment, AG Edwards adds.