Moody’s Lowers 3M’s Outlook to Negative From Stable Amid Rising Leverage Risk

Rating agency Moody’s Investors Service changed 3M Company’s (MMM) outlook to negative from stable due to expectations of higher leverage needs and weaker earnings for this year.Moody’s reaffirmed 3M’s A1 senior unsecured debt rating. The rating agency expects the company’s revenue and margins to decline “meaningfully” in 2020 as a result of a protracted period of falling demand exacerbated by the coronavirus crisis.3M has a Moderate Buy analyst consensus rating, based on 3 Buys, 3 Holds, and 1 Sell. The average price target of $165.80 suggests potential room for a 26% gain in the next 12 months. (See 3M’s stock …read more

Source:: Yahoo Finance