The Goldman Sachs Group Issues Positive Forecast for 3M (NYSE:MMM) Stock Price

Key Points

• Goldman Sachs raised its price target on 3M from $200 to $225 and maintained a Buy rating, implying 18.91% upside from the prior close.
• Analyst opinions are mixed: MarketBeat reports a consensus Hold rating and an average price target of $190.07.
• 3M beat quarterly EPS estimates, reporting $2.50 per share versus $2.38 expected; revenue was $6.60 billion, slightly below estimates, but up 1.5% year over year. The company also authorized up to $6 billion in share repurchases.

3M (NYSE:MMM - Get Free Report) had its price objective raised by analysts at The Goldman Sachs Group from $200.00 to $225.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a "buy" rating on the conglomerate's stock. The Goldman Sachs Group's target price indicates a potential upside of 18.91% from the stock's previous close.

MMM has been the subject of a number of other reports. Wolfe Research reaffirmed an "outperform" rating on shares of 3M in a report on Thursday, July 9th. UBS Group set a $230.00 price target on shares of 3M in a research note on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of 3M from $191.00 to $210.00 and gave the company an "overweight" rating in a research report on Wednesday. Sanford C. Bernstein upped their price objective on 3M from $171.00 to $197.00 and gave the stock a "market perform" rating in a research note on Wednesday, October 21st. Finally, Citigroup raised their target price on 3M from $183.00 to $188.00 and gave the stock a "neutral" rating in a report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, 3M presently has a consensus rating of "Hold" and a consensus price target of $190.07.

3M Stock Performance

Shares of MMM traded down $4.74 during trading hours on Thursday, hitting $189.22. The stock had a trading volume of 1,915,996 shares, compared to its average volume of 3,704,957. The firm has a market capitalization of $97.77 billion, a PE ratio of 28.12, a PEG ratio of 2.31 and a beta of 1.01. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.41 and a quick ratio of 1.06. 3M has a 12 month low of $139.34 and a 12 month high of $196.90. The stock has a fifty day moving average price of $168.68 and a 200 day moving average price of $161.55.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings results on Tuesday, October 20th. The conglomerate reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.38 by $0.12. 3M had a return on equity of 123.11% and a net margin of 14.01%. The business 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 company posted $2.19 EPS. The business's quarterly revenue was up 1.5% compared to the same quarter last year. Analysts anticipate that 3M will post 9.14 EPS for the current year.

3M announced that its board has approved a share buyback plan on Wednesday, November 4th that allows the company to buy back $6 billion in shares. This buyback authorization allows the conglomerate to buy up to 6.6% of its shares through open market purchases. Share buyback plans are typically a sign that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On 3M

A number of hedge funds have recently made changes to their positions in the business. Bahl & Gaynor LLC increased its holdings in shares of 3M by 2.9% in the third quarter. Bahl & Gaynor LLC now owns 12,365 shares of the conglomerate's stock valued at $2,030,000 after purchasing an additional 343 shares during the period. Moneco Advisors LLC raised its stake in shares of 3M by 2.6% during the third quarter. Moneco Advisors LLC now owns 3,950 shares of the conglomerate's stock worth $648,000 after purchasing an additional 101 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its holdings in shares of 3M by 6.2% during the third quarter. Mesirow Financial Investment Management Inc. now owns 5,710 shares of the conglomerate's stock worth $937,000 after purchasing an additional 333 shares during the period. Keybank National Association OH lifted its holdings in shares of 3M by 2.6% during the third quarter. Keybank National Association OH now owns 378,545 shares of the conglomerate's stock worth $62,138,000 after purchasing an additional 9,676 shares during the period. Finally, Cornerstone Wealth Management LLC lifted its holdings in shares of 3M by 2.2% during the third quarter. Cornerstone Wealth Management LLC now owns 7,975 shares of the conglomerate's stock worth $1,309,000 after purchasing an additional 172 shares during the period. 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: Safety & Industrial growth is picking up. Broad-based market strength, margin expansion and productivity gains are supporting the segment and an upbeat 2026 outlook. Read article: 3M's Safety & Industrial Growth Picks Up
• Positive Sentiment: 3M authorized up to $6 billion in new stock repurchases, on top of $1.5 billion remaining under its prior authorization. The program may support shareholder returns and signal management confidence; it does not guarantee purchases at any particular pace. 3M also declared a quarterly dividend of $0.78 per share. Read article: 3M Board Approves New $6 Billion Share Repurchase Authorization
• Positive Sentiment: AWS collaboration could position 3M for AI data-center demand. The companies plan to scale 3M’s Expanded Beam Optical platform for data-center connectivity, with the initiative expected to create more than 500 jobs. Read article: 3M Expands AI Data Center Optics Push
• Positive Sentiment: JPMorgan raised its price target to $210 and reiterated an Overweight rating, reflecting a more bullish analyst view. Read article: JPMorgan raises 3M price target
• Positive Sentiment: PFAS personal-injury settlement may remove a major legal overhang. 3M agreed to a resolution with a commitment of $5.8 billion in present value through 2034, covering a broad set of AFFF-related claims. UBS characterized the settlement as less costly than investors had expected. Read article: 3M Reaches Broad Resolution of AFFF Personal Injury Litigation
• Negative Sentiment: The PFAS deal still carries financial and execution risk: the announced settlement is described as up to $7.35 billion, and reports say a participation threshold has not been publicly disclosed. The final cost and effectiveness of resolving claims therefore remain important uncertainties. Read article: 3M's Forever Chemicals Bill Just Grew by Billions

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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