3M First-Quarter Results Driven by Strong Operational Performance; Company Initiates Full-Year 2024 Guidance Reflecting Completion of Solventum Spin

3M (MMM) PT Raised to $87 at RBC Capital

RBC Capital analyst Deane Dray raised the price target on 3M (NYSE: MMM) to $87.00 (from $78.00) while maintaining a Underperform rating.

The analyst comments "Underperform-rated 3M reported a sizeable 27c/13% 1Q24 operating beat vs. our estimate. This was the last quarter with Health... More

3M (MMM) PT Raised to $100 at Citi

Citi analyst Andrew Kaplowitz raised the price target on 3M (NYSE: MMM) to $100.00 (from $98.00) while maintaining a Neutral rating.

The analyst comments "We think 1Q results mark a relatively good start to MMM potentially unlocking value post its Solventum spin with a reshaped... More

JPMorgan Upgrades 3M (MMM) to Overweight

JPMorgan analyst Stephen Tusa Jr. upgraded 3M (NYSE: MMM) from Neutral to Overweight with a price target of $111.00 (from $110.00).

The analyst comments "We are upgrading 3M to OW on a combination of an attractive valuation, an increasingly cleaned up balance sheet, with the dividend cut catalyst behind them now, and a turn in earnings momentum on a bottom in electronics, with better visibility on remainco fundamentals, while its still highly non-consensus, with only 1 buy rating. Our PT of $111 ($110 prior) assumes the core trades at a 15%... More

3M (MMM) beats Q1 estimates, forecasts 40% dividend payout ratio; shares rise

(Updated - April 30, 2024 9:41 AM EDT)

3M Co. (NYSE: MMM) shares rose more than 3% in early trading on Tuesday after the company topped analyst expectations for the fiscal Q1 2024 and provided an update for its dividend payout.

The conglomerate posted first-quarter earnings per share (EPS) of $2.39, surpassing analyst expectations of $2.10. Revenue stood at $7.72 billion, also above the... More