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Barclays Bumps Up Price Target For Several Multi-Industry Companies

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·2 min read
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Barclays analyst Julian Mitchell adjusts price targets for several multi-industry companies.

  • Mitchell expects inflation to boost sales for multi-industry companies in Q4, but he sees margin pressure in the near term.

  • The analyst's 2022 earnings estimates are slightly above consensus, and he thinks Street numbers need to be more backend loaded.

  • The stronger U.S. dollar is also an "emerging headwind," says Mitchell.

  • The analyst raised Johnson Controls International PLC's (NYSE: JCI) price target to (an upside of 6%) from $85 and kept an Overweight rating on the shares.

  • The analyst lowered 3M Co (NYSE: MMM) price target to 7 (a downside of 2%) from $182 and kept an Underweight rating on the shares.

  • The analyst raised Stanley Black & Decker, Inc. (NYSE: SWK) price target to 2 (an upside of 20%) from $231 and kept an Overweight rating on the shares.

  • The analyst raised SPX Flow Inc's (NYSE: FLOW) price target to (a downside of 1%) from $75 and kept an Equal Weight rating on the shares.

  • The analyst raised Regal Rexnord Corp's (NYSE: RRX) price target to 4 (an upside of 16.4%) from $200 and kept an Overweight rating on the shares.

  • The analyst raised Ingersoll Rand Inc's (NYSE: IR) price target to (an upside of 21.8%) from $70 and kept an Overweight rating on the shares.

  • The analyst raised Emerson Electric Co's (NYSE: EMR) price target to (an upside of 3.5%) from $98 and kept an Equal-Weight rating on the shares.

  • The analyst raised Dover Corp's (NYSE: DOV) price target to 6 (an upside of 13%) from $185 and kept an Overweight rating on the shares.

  • The analyst raised APi Group Corp's (NYSE: APG) price target to (an upside of 13.7%) from $24 and kept an Overweight rating on the shares.

  • Price Action: JCI shares are higher by 2.27% at $81.15, MMM higher by 1.71% at $180.79, SWK higher by 3.74% at $192.87, FLOW higher by 0.50% at $86.88, RRX higher by 2.71% at $175.42, IR higher by 1.9% at $60.77, EMR higher by 4.17% at $95.59, DOV higher by 2.39% at $182.60, and APG higher by 2.49% at $26.39 on the last check Tuesday.

Latest Ratings for MMM

Jan 2022

RBC Capital

Downgrades

Sector Perform

Underperform

Jan 2022

Barclays

Maintains

Underweight

Dec 2021

Mizuho

Initiates Coverage On

Neutral

View More Analyst Ratings for MMM
View the Latest Analyst Ratings

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