3M (NYSE:MMM) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada raised its 3M price target from $132 to $135 but maintained an “underperform” rating, implying 21.21% downside from the prior close.
• Analyst opinion remains mixed: seven analysts rate 3M a Buy, eight a Hold and one a Sell, producing a consensus “Hold” rating and average price target of $182.71.
• 3M reported quarterly EPS of $2.50, beating estimates of $2.38, while revenue of $6.60 billion was nearly in line with expectations and increased 1.5% year over year.

3M (NYSE:MMM - Get Free Report) had its target price upped by analysts at Royal Bank Of Canada from $132.00 to $135.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an "underperform" rating on the conglomerate's stock. Royal Bank Of Canada's price objective points to a potential downside of 21.21% from the company's previous close.

Several other equities analysts also recently weighed in on MMM. Mizuho raised their price target on 3M from $160.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday, July 23rd. Wolfe Research restated an "outperform" rating on shares of 3M in a research report on Thursday, July 9th. Weiss Ratings lowered 3M from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. UBS Group lifted their price objective on 3M from $190.00 to $218.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. cut their target price on shares of 3M from $205.00 to $185.00 and set an "overweight" rating for the company in a research note on Friday, October 9th. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, 3M presently has a consensus rating of "Hold" and an average price target of $182.71.

3M Stock Up 5.8%

MMM stock opened at $171.34 on Wednesday. The company's 50 day simple moving average is $169.35 and its 200-day simple moving average is $161.70. The firm has a market capitalization of $88.36 billion, a PE ratio of 18.93, a P/E/G ratio of 2.27 and a beta of 0.99. 3M has a 12 month low of $139.34 and a 12 month high of $184.90. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.24 and a quick ratio of 0.91.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The conglomerate reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.12. 3M had a return on equity of 115.87% and a net margin of 11.90%. The firm had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.61 billion. During the same period in the previous year, the firm posted $2.19 EPS. The company's quarterly revenue was up 1.5% compared to the same quarter last year. Equities analysts expect that 3M will post 8.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 3M news, insider Karin Chavez sold 3,635 shares of 3M stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total value of $663,423.85. Following the completion of the sale, the insider directly owned 14,035 shares of the company's stock, valued at approximately $2,561,527.85. The trade was a 20.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MMM. Amundi increased its position in 3M by 67.0% during the 2nd quarter. Amundi now owns 4,536,148 shares of the conglomerate's stock worth $734,448,000 after purchasing an additional 1,819,178 shares in the last quarter. Ascentis Wealth Management LLC lifted its position in 3M by 22,972.5% during the second quarter. Ascentis Wealth Management LLC now owns 347,472 shares of the conglomerate's stock valued at $56,259,000 after buying an additional 345,966 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in 3M by 7.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,935,534 shares of the conglomerate's stock valued at $637,202,000 after buying an additional 270,458 shares in the last quarter. Nykredit A S purchased a new stake in 3M during the second quarter worth approximately $21,453,000. Finally, Engineers Gate Manager LP grew its stake in 3M by 74.0% during the second quarter. Engineers Gate Manager LP now owns 287,652 shares of the conglomerate's stock worth $46,574,000 after buying an additional 122,368 shares during the period. Hedge funds and other institutional investors own 65.25% of the company's stock.

3M News Roundup

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

• Positive Sentiment: Q3 earnings beat expectations: Adjusted EPS rose 12% year over year to $2.50, exceeding analysts’ $2.38 estimate. Adjusted operating margin expanded to 26.2%, while GAAP EPS increased 70% to $2.63. 3M Reports Third-Quarter 2026 Results; Raises Full-Year EPS Guidance
• Positive Sentiment: Full-year outlook raised: 3M now expects 2026 adjusted EPS of $9.10 to $9.15, marking the third consecutive quarterly increase to its earnings outlook. Management cited cost controls, pricing actions and improved operating performance. 3M raises 2026 earnings guidance after quarterly profit growth
• Positive Sentiment: Amazon data-center agreement adds a growth catalyst: The expanded commercial relationship is tied to as much as $6 billion in data-center sales. Amazon received warrants to purchase approximately $521 million of 3M stock, with most vesting linked to purchases of optical-connectivity and other data-center products. Amazon Gets Warrant to Buy $521.4 Million of 3M Stock in Expanded Data Center Partnership
• Positive Sentiment: New-product momentum is encouraging: Sales of new products reportedly increased 34% year to date to nearly $3 billion, supporting the view that CEO Bill Brown’s turnaround strategy is gaining traction. 3M: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Revenue growth remains modest: Quarterly sales were approximately $6.6 billion, broadly in line with expectations, with adjusted organic growth of 3.3%. Investors will likely monitor whether data-center demand can accelerate overall growth. 3M Reports Q3 2026 In Line With Expectations
• Negative Sentiment: Potential dilution from Amazon warrants: The warrants could increase 3M’s share count if performance conditions are met, although the dilution would be linked to substantial future customer purchases and revenue.

About 3M

3M is a diversified technology and manufacturing company headquartered in St. Paul, Minnesota. Founded in 1902 as Minnesota Mining and Manufacturing Company, it developed from a mining venture into a global enterprise known for applying materials science and engineering to a broad range of industrial, commercial and consumer applications.

The company develops and manufactures products including adhesives, abrasives, filtration systems, personal protective equipment, medical and dental supplies, electrical and electronic materials, automotive components, reflective materials and workplace safety solutions.

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