Morgan Stanley downgrades 3M to underweight, sees legal issues and weak growth holding stock back

Published Thu, Feb 17 20226:07 AM ESTUpdated Thu, Feb 17 20223:08 PM EST

Jesse Pound @/in/jesse-pound @jesserpound

Traders work under monitors displaying 3M Co. signage on the floor of the New York Stock Exchange (NYSE) in New York.

Michael Nagle | Bloomberg | Getty Images

The market appears to be underestimating the hit 3M is going to take from ongoing lawsuits, creating downside risk for investors, according to Morgan Stanley.

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