JP Morgan's Tusa upgrades 3M, saying the stock 'is not that bad' anymore

Michael Roman, CEO, 3M
Scott Mlyn | CNBC

J.P. Morgan raised its rating on 3M shares to neutral from underweight on Monday, saying the industrial conglomerate "is not that bad" of an investment any more.

Shares of 3M rose 1.8% in trading to close at $178.47.

The 3M upgrade comes from J.P. Morgan analyst Stephen Tusa, widely considered the top industrials analyst on Wall Street. He especially gained a following after his early warnings regarding General Electric came true.