JPMorgan analyst Stephen Tusa upgraded 3M (MMM) to Neutral from Underweight with a price target of $150, up from $143.
The stock closed Friday up $3.22 to $175.37.
While PFAS chemicals litigation remains a risk, investor focus, for the time being, will shift towards fundamentals "as the relative earnings revision curve is probably more stable now," Tusa tells investors in a research note.
This is helped by a potential uptick in electronics, says the analyst, who raised his 2020 estimates for 3M.
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