JPMorgan Chase & Co. Cuts 3M (NYSE:MMM) Price Target to $178.00

Key Points

• JPMorgan cut 3M's price target to $178 from $182 and kept a "neutral" rating, implying roughly a 22% upside from current levels.
• Q1 earnings beat: 3M reported EPS of $2.14 vs. $1.98 expected and maintained FY2026 guidance of $8.50–$8.70, while revenue was about $6.0B.
• Analyst views are mixed—consensus is a Hold with a $171.17 target (5 Buys, 6 Holds, 1 Sell)—and the stock trades around $145.91 with a P/E of 28.17.

3M (NYSE:MMM - Get Free Report) had its target price dropped by investment analysts at JPMorgan Chase & Co. from $182.00 to $178.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage currently has a "neutral" rating on the conglomerate's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 21.99% from the company's current price.

MMM has been the subject of a number of other reports. UBS Group reissued a "buy" rating on shares of 3M in a research report on Friday, March 13th. Mizuho set a $160.00 price target on shares of 3M in a research note on Wednesday, January 21st. Citigroup lowered their price objective on shares of 3M from $175.00 to $166.00 and set a "neutral" rating for the company in a research report on Monday, April 13th. Barclays dropped 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. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on 3M from $181.00 to $171.00 and set a "hold" rating on the stock in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, 3M currently has a consensus rating of "Hold" and a consensus target price of $171.17.

3M Trading Up 0.1%

MMM stock traded up $0.13 during trading on Wednesday, reaching $145.91. 975,470 shares of the stock were exchanged, compared to its average volume of 3,995,601. The company has a current ratio of 1.59, a quick ratio of 1.33 and a debt-to-equity ratio of 3.29. The firm has a market capitalization of $76.22 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 2.16 and a beta of 1.09. The business has a 50 day moving average price of $153.72 and a 200-day moving average price of $160.22. 3M has a 1 year low of $134.85 and a 1 year high of $177.41.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The conglomerate reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.16. The business had revenue of $6 billion during the quarter, compared to analysts' expectations of $6.04 billion. 3M had a net margin of 11.14% and a return on equity of 104.75%. The business's revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.88 EPS. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. On average, research analysts predict that 3M will post 8.65 earnings per share for the current year.

Insider Transactions at 3M

In other 3M news, CAO Theresa E. Reinseth sold 5,145 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $172.75, for a total value of $888,798.75. Following the completion of the transaction, the chief accounting officer owned 2,585 shares of the company's stock, valued at $446,558.75. This trade represents a 66.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.19% of the stock is currently owned by company insiders.

Institutional Trading of 3M

Several hedge funds have recently modified their holdings of MMM. SG Americas Securities LLC increased its holdings in 3M by 653.6% during the 1st quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate's stock worth $344,178,000 after purchasing an additional 2,055,419 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new position in shares of 3M in the 4th quarter valued at about $65,009,000. Align Financial LLC acquired a new position in shares of 3M during the fourth quarter worth about $4,101,000. Allstate Corp increased its stake in shares of 3M by 107.1% during the fourth quarter. Allstate Corp now owns 41,212 shares of the conglomerate's stock worth $6,598,000 after buying an additional 21,316 shares during the period. Finally, BNP Paribas raised its holdings in 3M by 219.5% in the fourth quarter. BNP Paribas now owns 25,718 shares of the conglomerate's stock valued at $4,118,000 after acquiring an additional 17,669 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about 3M

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

• Positive Sentiment: Q1 earnings beat and maintained outlook — 3M reported adjusted EPS of $2.14, topping estimates and citing margin gains and cost controls while holding its full-year guidance, which supports near-term earnings visibility. Read More.
• Positive Sentiment: Productivity and strategic actions highlighted — Coverage notes productivity gains and pricing steps helped offset sluggish organic growth, improving operating leverage that investors prize. Read More.
• Positive Sentiment: Analyst upgrades/target increases — Wells Fargo raised its target to $165 and kept an overweight rating, signaling renewed buy-side interest. Read More.
• Positive Sentiment: Jefferies lifted its price target to $170 (hold) — another vote of confidence that adds upward pressure on the stock. Read More.
• Positive Sentiment: Buy-the-dip commentary from some outlets — analysts/commentary pieces (e.g., Seeking Alpha) suggest starting to nibble given the beat and valuation metrics. Read More.
• Neutral Sentiment: Revenue mixed — reported revenue of $6.00B roughly met expectations (+3.9% Y/Y) but organic sales weakness tempers the quality of the beat. Read More.
• Neutral Sentiment: Deutsche Bank trims target but stays constructive — PT lowered to $171 from $181 and remains a hold, leaving room for upside but signaling more cautious near-term view. Read More.
• Negative Sentiment: RBC underperform/target cut — Royal Bank of Canada cut its PT to $133 and kept an underperform rating, introducing downside risk and reminding investors of differing views on growth and capital allocation. Read More.

About 3M

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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