Hedge Funds Don’t Particularly Like 2 Of These 3 Upgraded Stocks

Lastly is 3M Co (NYSE:MMM), which got the upgrade treatment from Credit Suisse this morning, getting lifted to ‘Outperform’ from ‘Neutral’, though its price target was maintained at $155. As with Box, the upgrade on 3M Co (NYSE:MMM) is primarily due to weakness, as the price target would also take it back to just mid-July levels. It also provides much lower upside potential at less than 13%. 3M is down by over 15% year-to-date, but up by about 1% today.

3M Co (NYSE:MMM) is another stock that the hedge funds we monitor don’t particularly care for, all things considered. It ranked as one of the least popular Dow stocks among them at the end of last year, with just 33 investors holding long positions in the stock, the third-lowest total. That total has since risen to 40, but they still own just 2.10% of its common shares, worth $2.10 billion. 3M appears to be a stock for the birds, as First Eagle Investment Management and Boykin Curry’s Eagle Capital Management were the top shareholders among those elite funds.

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