Deutsche Bank Reiterates Hold Rating, $95 PT for 3M

In a report released earlier today, Deutsche Bank AG reiterated its Hold rating and $95.00 price target for the 3M Company (NYSE: MMM).

Deutsche Bank went on to say “We see limited upside potential to valuation due to economic weakness in Europe, moderating growth trends in emerging markets, and a more challenging path toward achieving the company's growth targets following the departure of an intensely innovation-focused CEO. We believe downside is limited by its leverage to improving industrial demand trends (3M tends to lead changes in industrial production IP at a rate 3x the change in IP).”

The 3M Company closed on Friday at $89.36.