Royal Bank Of Canada Cuts 3M (NYSE:MMM) Price Target to $123.00

Key Points

• Royal Bank of Canada lowered its price target on 3M from $133 to $123 and kept an underperform rating, implying about 24.4% downside from the current price.
• Analyst sentiment on 3M is mixed overall: the stock has several Buy and Hold ratings, but the consensus rating is Hold with a consensus target price of $169.29.
• 3M recently reported better-than-expected EPS of $2.14 versus $1.98 estimates, though revenue came in slightly below forecasts at $6.0 billion; the company also guided FY 2026 EPS at 8.50–8.70.

3M (NYSE:MMM - Get Free Report) had its target price cut by stock analysts at Royal Bank Of Canada from $133.00 to $123.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "underperform" rating on the conglomerate's stock. Royal Bank Of Canada's price objective would indicate a potential downside of 24.43% from the company's current price.

MMM has been the topic of a number of other reports. Wolfe Research reiterated an "outperform" rating on shares of 3M in a research note on Thursday, July 9th. Wells Fargo & Company lifted their price objective on shares of 3M from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 22nd. Barclays cut their price objective on 3M from $190.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 1st. The Goldman Sachs Group upgraded 3M to a "buy" rating and set a $190.00 target price for the company in a report on Monday, June 15th. Finally, Sanford C. Bernstein initiated coverage on shares of 3M in a research note on Tuesday, June 9th. They set an "underperform" rating and a $131.00 target price for the company. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $169.29.

3M Stock Up 1.4%

NYSE:MMM traded up $2.23 during trading hours on Thursday, hitting $162.75. The stock had a trading volume of 332,427 shares, compared to its average volume of 3,907,009. The business has a 50 day simple moving average of $155.42 and a two-hundred day simple moving average of $156.12. The company has a current ratio of 1.59, a quick ratio of 1.19 and a debt-to-equity ratio of 3.29. The company has a market cap of $84.89 billion, a PE ratio of 31.38, a price-to-earnings-growth ratio of 2.20 and a beta of 1.02. 3M has a 1-year low of $139.34 and a 1-year high of $177.41.

3M (NYSE:MMM - Get Free Report) last announced its earnings results on Tuesday, April 21st. The conglomerate reported $2.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.16. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $6.04 billion. 3M had a return on equity of 104.75% and a net margin of 11.14%.The company's revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.88 earnings per share. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. Analysts predict that 3M will post 8.74 EPS for the current year.

Institutional Trading of 3M

A number of large investors have recently bought and sold shares of the stock. American Trust raised its holdings in 3M by 3.4% in the 4th quarter. American Trust now owns 1,803 shares of the conglomerate's stock valued at $289,000 after acquiring an additional 60 shares in the last quarter. Walter & Keenan Wealth Management LLC IN ADV increased its position in shares of 3M by 1.0% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 6,045 shares of the conglomerate's stock worth $938,000 after purchasing an additional 61 shares during the period. Cornerstone Planning Group LLC raised its stake in 3M by 32.1% in the first quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate's stock valued at $42,000 after purchasing an additional 71 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in 3M by 4.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 1,802 shares of the conglomerate's stock valued at $288,000 after purchasing an additional 72 shares in the last quarter. Finally, Morse Asset Management Inc lifted its position in 3M by 0.7% during the fourth quarter. Morse Asset Management Inc now owns 10,713 shares of the conglomerate's stock worth $1,715,000 after purchasing an additional 75 shares during the period. 65.25% of the stock is currently owned by institutional investors.

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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