Analysts are bullish on two industrial goods companies, 3M (MMM) and Rocket Lab USA (RKLB), according to recent reports. Bank of America Securities analyst Andrew Obin maintained a Buy rating on 3M with a price target of $200.00, citing optimism in the sector. The stock closed last Monday at $188.63, and Obin, a 5-star analyst with a 14.6% average return, covers other industrial goods stocks as well.
The analyst consensus on 3M is a Moderate Buy, with an average price target of $196.60, suggesting a 4.4% upside from current levels. Additionally, TipRanks upgraded the stock to Buy with a $213.00 price target in a report issued on November 5.
Meanwhile, Ronald Epstein from Bank of America Securities maintained a Buy rating on Rocket Lab USA, setting a price target of $110.00. The company’s shares closed last Monday at $58.86. Epstein, another 5-star analyst with a 17.1% average return, covers other industrial goods stocks as well. The analyst consensus on Rocket Lab USA is a Strong Buy, with an average price target of $99.00, representing an 82.3% upside.
Citizens JMP also reiterated a Buy rating on Rocket Lab USA with a $90.00 price target in a report issued on November 4. The recent analyst sentiments reflect a positive outlook for both companies in the industrial goods sector.