3M "buy"

07/19/05 - UBS

NEW YORK, July 19 (newratings.com) - Analysts at UBS maintain their "buy" rating on 3M (MMM). The target price is set to $96.

In a research note published this morning, the analysts mention that the company reported its 2Q05 earnings in-line with and margins ahead of the estimates. 3M's SG&A expenses declined during the quarter on account of Six Sigma initiatives, the analysts say. The company's sales rebounded during the quarter, according to UBS.