Are Wall Street Analysts Bullish on 3M Company Stock?

Are Wall Street Analysts Bullish on 3M Company Stock?

Tue, August 4, 2026 at 2:29 PM GMT+3 2 min read

Saint Paul, Minnesota-based 3M Company (MMM) is a diversified global technology and manufacturing company that develops products for industrial, healthcare, consumer, transportation, electronics, and safety markets. With operations in more than 70 countries and products sold in nearly every corner of the world, 3M is known for combining materials science, engineering, and innovation to create solutions used by businesses and consumers alike. It is currently valued at $90.9 billion by market cap.

Shares of this conglomerate giant have outperformed the broader market over the past year. MMM has gained 22.7% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 21.8%. However, the stock has slightly trailed the benchmark this year, rising 10.7% YTD versus the SPX's 11% gain.

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The picture is less favorable against industry peers, with the State Street Industrial Select Sector SPDR ETF (XLI) gaining 22.3% over the past year and 18% in 2026.

On July 21, 3M shares jumped 7.3% as the company delivered a standout fiscal Q2 2026, comfortably beating Wall Street's expectations. The industrial giant continued to benefit from broad-based demand and disciplined execution, with adjusted sales rising 5.5% year over year to $6.5 billion and adjusted organic sales increasing 5.4%. Adjusted EPS climbed 11.1% to $2.40, supported by a 40-basis-point expansion in adjusted operating margin to 24.9%.

3M also generated $1 billion in operating cash flow and $1.3 billion in adjusted free cash flow, underscoring the strength of its cash-generating business model. Reflecting its strong first-half performance, management raised its FY2026 adjusted EPS guidance to $8.80-$8.95, up from the previous range of $8.50-$8.70.

For the current fiscal year, ending in December, analysts expect MMM's EPS to grow 11% to $8.95 on a diluted basis. The company's earnings surprise history is impressive. It beat the consensus estimate in each of the last four quarters.

Among the 17 analysts covering MMM stock, the consensus is a "Moderate Buy." That's based on nine "Strong Buy" ratings, six "Holds," and two "Strong Sells."

The configuration is bullish than a month ago when the stock had eight "Strong Buy" recommendations.

On July 17, J.P. Morgan upgraded 3M to "Overweight" from "Neutral" and assigned a $180 price target, citing improving growth momentum and confidence in the company's next phase of earnings expansion. The firm highlighted resilient short-cycle demand, rising AI and data center investments, and strength in semiconductors as key tailwinds, which are expected to offset ongoing weakness in 3M's consumer electronics and automotive businesses.

The mean price target of $186.12 represents a 5% premium to MMM's current price levels. The Street-high price target of $218 suggests a notable upside potential of 23%.

On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com