FMP
Apr 2, 2024 12:47 PM - Davit Kirakosyan
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RBC Capital analysts reduced their price target for 3M Company (NYSE:MMM) to $78 from $84 while maintaining an Underperform rating. This update follows the April 1 spinoff of 3M’s healthcare business, Solventum. Following this event, 3M shares gained more than 6% yesterday.
For the first quarter of 2024, 3M's Health Care segment will still be included in the company's financial results. Key adjustments in RBC's model include the removal of Health Care sales and profit from the second quarter of 2024, the assumption of $150-$175 million in annual stranded costs recorded across the segments, and the expectation for Transition Service Agreement (TSA) income and costs to have a net neutral impact overall.
RBC’s new price target suggests a 15% downside from the current stock price, reflecting adjustments for legal liabilities and the impact of the healthcare business spinoff.
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A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...
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On Thursday, May 16, 2024, Deutsche Bank upgraded its rating on NASDAQ:ASTS to Buy, maintaining a hold position. At the time of the announcement, ASTS was trading at $4.03. This decision was accompanied by an increase in the price target for AST SpaceMobile, raised to $22 from $19, as detailed in a ...
May 24, 2024 9:30 AM - Rajnish Katharotiya
Earnings call transcripts are invaluable resources for investors, analysts, and financial enthusiasts. They provide insights into a company's performance, strategy, and future outlook, making them essential for making informed investment decisions. With Financial Modeling Prep, Earnings Call Transcr...