Credit Suisse Raises 3M Target To $101 From $97

Credit Suisse says that regarding its estimates on shares of 3M Company (NYSE: MMM), it is looking for EPS in 2011 and 2012 of $6.00 and $6.68 respectively, driven by the aforementioned factors.

“For 2011 we are forecasting 8.6% top-line growth with 7.3% EBIT growth to drive 5% EPS growth while for 2012 we are forecasting 6.1% top-line growth with 11.6% EBIT growth to drive 15% EPS growth,” Credit Suisse writes.

“We are raising our price target to $101 (from $97), which offers roughly 19% upside including a 2.4% dividend,” Credit Suisse writes. “While a solid return, it is only in-line with the broader group, justifying a Neutral rating on the stock.”

3M Company currently trades at $87.11.