Royal Bank Of Canada Issues Positive Forecast for 3M (NYSE:MMM) Stock Price

3M (NYSE:MMM) had its target price increased by equities researchers at Royal Bank Of Canada from $123.00 to $132.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “underperform” rating on the conglomerate’s stock. Royal Bank Of Canada’s price target would suggest a potential downside of 22.91% from the stock’s previous close.

Several other equities analysts also recently weighed in on MMM. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $178.00 to $180.00 in a research report on Friday, July 17th. Weiss Ratings cut 3M from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 1st. The Goldman Sachs Group raised 3M to a “buy” rating and set a $190.00 price objective on the stock in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft lowered their price objective on 3M from $181.00 to $171.00 and set a “hold” rating on the stock in a research report on Wednesday, April 22nd. Finally, Barclays cut their price objective on 3M from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $170.07.

3M Stock Up 7.6%

Shares of MMM stock opened at $171.22 on Wednesday. The company has a current ratio of 1.59, a quick ratio of 1.19 and a debt-to-equity ratio of 3.29. 3M has a 12 month low of $139.34 and a 12 month high of $177.41. The stock has a market cap of $89.30 billion, a P/E ratio of 32.99, a P/E/G ratio of 2.24 and a beta of 1.02. The company has a 50 day simple moving average of $156.99 and a two-hundred day simple moving average of $156.17.

3M (NYSE:MMM) last issued its quarterly earnings results 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. 3M had a net margin of 11.14% and a return on equity of 104.75%. The business had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same quarter last year, the company posted $2.16 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. On average, research analysts expect that 3M will post 8.74 earnings per share for the current year.

Hedge Funds Weigh In On 3M

Several large investors have recently made changes to their positions in the business. Commonwealth Retirement Investments LLC bought a new position in shares of 3M in the fourth quarter worth about $28,000. EQ Wealth Advisors LLC bought a new stake in 3M during the 4th quarter valued at approximately $40,000. Sfam LLC purchased a new position in 3M in the 4th quarter worth approximately $45,000. Cornerstone Planning Group LLC boosted its stake in 3M by 32.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 71 shares during the period. Finally, West Paces Advisors Inc. bought a new position in 3M in the 2nd quarter worth approximately $49,000. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting 3M

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

• Positive Sentiment: 3M reported adjusted EPS of $2.40, topping consensus estimates and marking year-over-year growth, which signals stronger-than-expected profitability. 3M Reports Second-Quarter 2026 Results; Increases Full-Year Guidance
• Positive Sentiment: Revenue came in at $6.5 billion, above Wall Street expectations, with organic growth of 5.4% and strength in Safety & Industrial plus Transportation & Electronics, showing broad operational momentum. 3M’s Q2 Earnings Top Estimates, Safety & Industrial Sales Rise Y/Y
• Positive Sentiment: 3M lifted its FY 2026 adjusted EPS guidance to $8.80-$8.95 from $8.50-$8.70, which suggests management sees continued margin support from pricing, cost cuts, and resilient demand. 3M Upgrades FY Views as Profit, Revenue Rise
• Neutral Sentiment: Several market recaps highlighted 3M as one of the day’s gainers after the earnings report, reinforcing that the stock’s move is primarily driven by the better-than-expected quarter and upgraded outlook. 3M Stock Soars to Pace Dow Gainers After Strong Earnings Report

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).