3M: Deutsche Bank cuts target price

(CercleFinance.com) - Shares in US diversified manufacturer 3M are down 0.
2% at 204.2 dollars after Deutsche Bank cuts its target price on the stock from 197 dollars to 188 dollars.

The research house, which keeps a "hold" rating on the stock, says in a note on US industrial stocks that it dislikes the company's end market exposure (heavy auto/electrics, Europe/China).

DB also writes that 3M's full-year guidance requires "material acceleration" in organic growth during the second half of the year, despite a "difficult" comparison basis.

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