3M Stock Gains After Flurry Of Price Target Hikes: Retail Continues To Be Jubilant

3M (MMM) shares gained 1.6% on Wednesday after several brokerages raised the price target on the industrial conglomerate stock following an upbeat fourth-quarter earnings.

According to TheFly, Wells Fargo analyst Joseph O'Dea upgraded the stock to ‘Overweight’ from ‘Equal Weight’ and raised the price target to $170 from $140.

The analyst said that 3M is in the "early days of significant margin expansion" when uncertainty looms around the trajectory of an industrial recovery, which is attractive.

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According to TheFly, Wells Fargo said that after the most extensive restructuring program in 3M's history, there's still a significant cost opportunity to drive better operational execution.

On Tuesday, 3M reported a marginal rise in net sales to $6 billion, compared to a Wall Street estimate of $5.8 billion. Its earnings per share (EPS) stood at $1.68, compared to an estimated $1.67.

For 2025, the company had projected adjusted total sales growth of 0.5% to 1.5%, reflecting adjusted organic sales growth of 2% to 3%. 

Citi raised the price target for the stock to $152 from $142 and kept the rating at ‘Neutral.’

According to TheFly, Citi said that while a litigation-related overhang still exists, investor focus has somewhat moved on to 3M's operational performance, and the company has been managing to deliver a ‘solid operational margin.’

BofA Global Research analyst also raised the price target of 3M to $175 from $160, as per TheFly.

The analyst expected that 3M  will provide more visibility and granularity on its long-term net productivity initiatives.

Retail sentiment on Stocktwits remained at ‘extremely bullish’ (86/100) territory, albeit with a slightly lower score, while retail chatter was ‘high.’

One user expressed the benefits of buying shares of companies like 3M whenever there is a slump in prices.

3M was in the news in December when it was sued by Texas Attorney General Ken Pax­ton over misrepresentation of products that contained so-called “forever chemicals.”

Over the past year, 3M has gained 65%.

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