3M "buy," target price reduced

30.01.08 - UBS

NEW YORK, January 30 (newratings.com) - Analysts at UBS maintain their "buy" rating on 3M Co (MMM). The target price has been reduced from $103 to $95.

In a research note published this morning, the analysts mention that the company has posted its 4Q EPS from continuing operations ahead of the consensus. 3M expects its 1Q results to be adversely affected by the timing of the Easter holiday and less billing days.