3M (NYSE:MMM) Price Target Raised to $132.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised its price target on 3M to $132 from $123, while keeping an underperform rating. The new target still implies downside from the current share price.
• 3M reported strong quarterly results, with EPS of $2.40 beating estimates and revenue of $6.5 billion topping forecasts. The company also posted year-over-year revenue growth and raised its full-year guidance.
• Analyst sentiment remains mixed: some firms have upgraded or raised targets on 3M, but the overall consensus rating is still Hold with an average target price of about $170.07.

3M (NYSE:MMM - Get Free Report) had its price target upped by analysts at Royal Bank Of Canada from $123.00 to $132.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "underperform" rating on the conglomerate's stock. Royal Bank Of Canada's target price points to a potential downside of 22.91% from the company's current price.

MMM has been the topic of several other research reports. JPMorgan Chase & Co. raised shares of 3M from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $178.00 to $180.00 in a research note on Friday, July 17th. Barclays lowered their target price on shares of 3M from $190.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 1st. Citigroup restated a "neutral" rating on shares of 3M in a research note on Wednesday. HSBC boosted their target price on 3M from $175.00 to $185.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Finally, Wells Fargo & Company raised their price target on 3M from $160.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, 3M presently has a consensus rating of "Hold" and an average target price of $170.07.

3M Stock Up 7.6%

Shares of NYSE:MMM opened at $171.22 on Wednesday. The firm has a market capitalization of $89.30 billion, a P/E ratio of 32.99, a P/E/G ratio of 2.24 and a beta of 1.02. The company has a debt-to-equity ratio of 3.29, a quick ratio of 1.19 and a current ratio of 1.59. The stock has a 50 day moving average price of $156.99 and a 200-day moving average price of $156.17. 3M has a 52-week low of $139.34 and a 52-week high of $177.41.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The conglomerate reported $2.40 EPS for the quarter, beating the consensus estimate of $2.25 by $0.15. 3M had a return on equity of 104.75% and a net margin of 11.14%.The business had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.40 billion. During the same quarter last year, the firm posted $2.16 earnings per share. The company's revenue for the quarter was up 2.5% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. As a group, equities research analysts anticipate that 3M will post 8.74 EPS for the current fiscal year.

Institutional Investors Weigh In On 3M

A number of hedge funds have recently added to or reduced their stakes in MMM. SG Americas Securities LLC boosted its stake in shares of 3M by 653.6% in the 1st quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate's stock worth $344,178,000 after buying an additional 2,055,419 shares during the last quarter. PFA Pension Forsikringsaktieselskab purchased a new stake in 3M during the fourth quarter valued at $65,009,000. Handelsbanken Fonder AB lifted its holdings in 3M by 1.5% in the fourth quarter. Handelsbanken Fonder AB now owns 271,777 shares of the conglomerate's stock valued at $43,511,000 after acquiring an additional 4,101 shares during the period. Captrust Financial Advisors lifted its holdings in 3M by 2.9% in the fourth quarter. Captrust Financial Advisors now owns 156,676 shares of the conglomerate's stock valued at $25,084,000 after acquiring an additional 4,372 shares during the period. Finally, Willis Investment Counsel boosted its position in 3M by 1.5% in the fourth quarter. Willis Investment Counsel now owns 136,141 shares of the conglomerate's stock worth $21,796,000 after purchasing an additional 2,077 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about 3M

Here are the key news stories impacting 3M this week:

• Positive Sentiment: 3M reported adjusted EPS of $2.40, topping consensus estimates and marking year-over-year growth, which signals stronger-than-expected profitability. 3M Reports Second-Quarter 2026 Results; Increases Full-Year Guidance
• Positive Sentiment: Revenue came in at $6.5 billion, above Wall Street expectations, with organic growth of 5.4% and strength in Safety & Industrial plus Transportation & Electronics, showing broad operational momentum. 3M's Q2 Earnings Top Estimates, Safety & Industrial Sales Rise Y/Y
• Positive Sentiment: 3M lifted its FY 2026 adjusted EPS guidance to $8.80-$8.95 from $8.50-$8.70, which suggests management sees continued margin support from pricing, cost cuts, and resilient demand. 3M Upgrades FY Views as Profit, Revenue Rise
• Neutral Sentiment: Several market recaps highlighted 3M as one of the day’s gainers after the earnings report, reinforcing that the stock’s move is primarily driven by the better-than-expected quarter and upgraded outlook. 3M Stock Soars to Pace Dow Gainers After Strong Earnings Report

3M Company Profile

3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.

3M's businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).

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