BUZZ-3M: Slips as Jefferies cuts PT, cites weak end-market demand

** Shares of 3M Co down ~1.3% premarket at $130 after brokerage Jefferies cuts PT to $145 from $159

** Jefferies believes demand headwinds will likely be most visible in auto-related products, oral care, electronics, and consumer & office; maintains rating at "hold"

** Says headwinds from these segments should more than offset strong demand in respiratory, personal safety, and consumer cleaning products

** Bulk of the risk this summer will be related to end-market demand - Jefferies

** Sees co currently not undertaking new rounds of cost cutting (Reporting by Rachit Vats)

03/26/2020 10:59

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