3M Stock Eyes Best Week Since February: Wall Street Sees Multi-Year Growth Story Taking Shape

• Goldman Sachs raised its price target on 3M to $202 and reiterated a Buy rating.
• Goldman Sachs pointed to 3M’s stronger results, efficiency improvements and growing product pipeline. 
• UBS raised its 3M price target to $218, implying a 28% upside. 

3M Co. (MMM) stock is poised for its best week since February after its fiscal second-quarter (Q2) earnings and raised guidance convinced several Wall Street firms to increase their price targets, pointing to strengthening industrial demand, commercial execution and expanding growth momentum.  

Analysts Raise 3M’s Targets After Earnings Strength

Goldman Sachs raised its price target for MMM to $202 from $190 while maintaining a ‘Buy’ rating. The firm said the company’s Q2 earnings before interest and taxes exceeded expectations, supported by 5.4% organic growth. 

Goldman Sachs said that 3M’s improved performance, productivity efforts and expanding product pipeline could help the company reach the upper end of its updated 2026 guidance.

On Tuesday, 3M reported $6.5 billion in revenue for Q2 with earnings of $2.40, surpassing the analysts’ consensus estimates of $6.4 billion and $1.98, respectively, according to Fiscal AI data. The company raised its 2026 adjusted EPS outlook to $8.80 to $8.95 from the previous range of $8.50 to $8.70. 

RBC Capital analyst Deane Dray lifted the firm’s price target on 3M to $132 from $123 but kept an ‘Underperform’ rating. Dray noted that the company benefited from broad strength across its industrial businesses and delivered better-than-expected operating earnings. 

However, RBC maintained a cautious stance, describing the company’s second-half expectations as conservative. 3M stock inched 0.2% higher overnight, ahead of Thursday. 

3M’s Growth Strategy Gains Attention

UBS raised its target for 3M to $218 from $190 while keeping a ‘Buy’ rating, implying a  28% upside to the stock’s last closing price. The firm said 3M appears to be entering an extended period of improved growth, with new products and commercial initiatives expected to contribute more over time.

Bernstein raised its price target on 3M to $145 from $140 but maintained an ‘Underperform’ rating. Citi increased its price target to $183 from $166 while keeping a ‘Neutral’ rating, saying 3M's improving earnings momentum should help it achieve its higher 2026 financial outlook.

3M is also gaining exposure to the fast-growing AI infrastructure market through its Expanded Beam Optical (EBO) technology, which improves fiber-optic connectivity inside large-scale data centers. The company recently partnered with Microsoft Corp. (MSFT) to deploy EBO connectors across Azure AI data centers, where the technology helps deliver faster, more reliable network connections while reducing maintenance needs. 

3M Stock: Retail View 

On Stocktwits, retail sentiment around the stock remained in ‘bullish’ territory. 

MMM stock has gained 6% year-to-date. 

Also See: NOK Stock Heads For Best Day In 2 Weeks After Solid Q2: Retail Chases ‘Biggest AI Play Right Now’

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