3M (MMM) PT Raised to $180 at Mizuho
Mizuho analyst Brett Linzey raised the price target on 3M (NYSE: MMM) to $180.00 (from $160.00) while maintaining a Neutral rating.
The analyst commented: "Results were solid and better than in-going buy-side expectations. Organic growth of 5.4% came in ahead of a buy-side bogey that had drifted closer to ~4% ahead of the print. Orders up ~10% and July MTD trends remain healthy. FY guide raised across the board: organic to >3.5% (from ~3%), EPS to $8.80-$8.95 (from $8.50-$8.70, +$0.27 at midpoint), FCF up $100M to $4.7-$4.9B. We are raising our 2026E EPS to $8.86 (from $8.65); 2027E EPS to $9.73 (from $9.40). PT moves to $180 (from $160) based on ~13x our 2027E EBITDA estimate, as we roll forward our valuation framework and incorporate the stronger earnings outlook."