California, January 23, 2025 - 3M (NYSE:MMM) posted a strong fourth quarter in 2024, prompting Wells Fargo to upgrade the company's rating from equal weight to overweight and raise its target price to $170 from $140
For the last quarter of 2024, the tape maker reported a 2.2% year-over-year increase of adjusted sales of $5.8 billion with operating margin of 18.1%. The combination of 1.3 billion of free cash flow and a 17% year-over-year increase of GAAP EPS to $1.33 contribute to Wells Fargo's positive outlook on 3M.
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