BUZZ - Bernstein raises 3M rating, citing stronger growth and valuation prospects

September 25 - ** Bernstein upgraded industrial giant 3M (MMM.N) from "Underperform" to "Market Perform"

** Before the market open, the stock rose slightly

** The new target price implies a 2% upside from the stock’s previous closing price

** The firm noted that 3M has structurally reformed its R&D functions, improving product innovation and predictability of future growth

** Bernstein stated that easing pressures from R&D challenges will drive faster organic growth and bring a more optimistic valuation outlook

** As of the last trading day’s close, the stock had gained 4.6% year-to-date, underperforming the S&P 500 Index .SPX with its 12.5% increase

(To assist non-native English speakers, Reuters has automated the translation of its reports into several other languages. As automated translations may include errors or lack necessary context, Reuters does not guarantee the accuracy of the automated translation text and provides it solely for readers’ convenience. Reuters accepts no responsibility for any harm or loss arising from use of the automated translation feature.)