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

3M (NYSE:MMM) had its target price upped by investment analysts at Royal Bank Of Canada from $123.00 to $132.00 in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has an “underperform” rating on the conglomerate’s stock. Royal Bank Of Canada’s price objective indicates a potential downside of 22.36% from the company’s current price.

Several other research analysts also recently weighed in on MMM. Barclays decreased their price target on shares of 3M from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Sanford C. Bernstein initiated coverage on 3M in a research note on Tuesday, June 9th. They issued an “underperform” rating and a $131.00 price objective for the company. The Goldman Sachs Group raised 3M to a “buy” rating and set a $190.00 target price on the stock in a report on Monday, June 15th. Wells Fargo & Company lifted their target price on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. Finally, Jefferies Financial Group boosted their price target on 3M from $170.00 to $175.00 and gave the company a “hold” rating in a report on Monday, June 29th. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $177.21.

3M Trading Down 0.4%

3M stock opened at $170.02 on Wednesday. 3M has a 52-week low of $139.34 and a 52-week high of $177.41. The company has a market cap of $87.68 billion, a P/E ratio of 30.20, a P/E/G ratio of 2.36 and a beta of 1.02. The company has a quick ratio of 1.19, a current ratio of 1.24 and a debt-to-equity ratio of 3.63. The business has a 50-day simple moving average of $157.96 and a two-hundred day simple moving average of $156.30.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.15. The firm had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.40 billion. 3M had a net margin of 11.90% and a return on equity of 115.87%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.16 EPS. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. Analysts predict that 3M will post 8.9 EPS for the current year.

Institutional Investors Weigh In On 3M

A number of institutional investors have recently bought and sold shares of MMM. SG Americas Securities LLC boosted its holdings in shares of 3M by 806.1% during the 4th quarter. SG Americas Securities LLC now owns 314,460 shares of the conglomerate’s stock valued at $50,345,000 after purchasing an additional 279,757 shares during the last quarter. FSA Advisors Inc. bought a new stake in shares of 3M in the fourth quarter worth about $1,625,000. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of 3M in the fourth quarter worth about $65,009,000. Catalyst Funds Management Pty Ltd lifted its position in shares of 3M by 260.4% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 17,300 shares of the conglomerate’s stock worth $2,770,000 after buying an additional 12,500 shares in the last quarter. Finally, First Bank & Trust bought a new position in 3M during the fourth quarter valued at approximately $828,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Key 3M News

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

• Positive Sentiment: 3M reported better-than-expected Q2 results, topping both earnings and revenue estimates and lifting its full-year outlook, which is the main catalyst behind the stock’s recent strength. 3M shares rally after second-quarter earnings beat and higher full-year outlook (MMM)
• Positive Sentiment: Analysts have raised forecasts following the earnings beat, reflecting improved confidence in 3M’s earnings recovery and operational momentum. 3M Analysts Increase Their Forecasts After Strong Q2 Earnings
• Positive Sentiment: Commentary around the earnings call highlighted record margins, firmer cash flow, and management leaning into momentum, which could support further upside if execution continues. MMM Q2 Earnings Call Shows It is Leaning Into Momentum
• Neutral Sentiment: Brokerage sentiment remains mixed overall, with one report noting a consensus “Hold,” suggesting the rally may still face skepticism from some analysts. 3M Company (NYSE:MMM) Receives Consensus Rating of “Hold” from Brokerages
• Neutral Sentiment: RBC raised its price target but kept an underperform rating, indicating that not all Wall Street views have turned bullish despite the stronger quarter. 3M analysts increase their forecasts after strong Q2 earnings
• Neutral Sentiment: Several articles are focused on whether the earnings revival can continue, which underscores that investors are watching for proof that the recent improvement is sustainable. Can 3M Company (NYSE:MMM) Extend Its Earnings Revival?

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).