Benzinga | Sep 17, 2021 08:51AM EDT

UBS Lowers 3M Price Target, Maintains Sell Rating

* UBS analyst Markus Mittermaier lowered 3M Co (NYSE:MMM) price target to $172 (implying a downside of 5.78%) from $183 and maintained a Sell rating on the shares.

* Mittermaier cites intensifying sales and margin pressure from supply chain constraints and price and cost headwinds for the company, also cutting his operating margin view to 19.3% from 21.5%.

* Additionally, he says that September tends to be the most important month of the quarter for 3M and sees some risk that further downward revisions may be necessary.

* Price Action: MMM shares are trading lower by 0.65% at $181.47 during the pre-market session on Friday.