3M "buy," target price raised

22.05.07 - Deutsche Securities

NEW YORK, May 22 (newratings.com) - Analysts at Deutsche Bank Securities reiterate their "buy" rating on 3M (MMM), while raising their estimates for the company. The target price has been raised from $92 to $100.

In a research note published yesterday, the analysts mention that 3M?s growth is reaccelerating and the efficiency of the company?s supply chain is improving. 3M is expected to generate over 10% EPS growth until 2010, with the supply chain issue likely to be completely resolved over the next three years. The EPS estimates for 2007 and 2008 have been raised from $4.85 to $4.95 and from $5.35 to $5.50, respectively.