3M Shares Gain 2% Following Morgan Stanley Upgrade
<p>Morgan Stanley upgraded <a href='https://financialmodelingprep.com/financial-summary/MMM'>3M (NYSE:MMM)</a> to an Equal-weight rating from Underweight and adjusted their 12-month price target on the stock to $113.00, up from $102.00. As a result, shares rose more than 2% on Thursday.</p>
<p>The upgrade is attributed to the analysts’ observation of a reduction in the company's liabilities. According to the bank, the anticipated liabilities related to PFAS and Combat Arms could surpass the reported settlement amounts. They noted that ongoing litigation concerning PFAS from various sources and the likelihood of opt-outs from the Combat Arms settlement for stronger claims are factors contributing to this assessment.</p>
<p>3M recently revealed an agreement to settle the Combat Arms Earplug litigation with Aearo Technologies, amounting to approximately $6 billion.</p>

NYSE:MMM