Bank of America (BofA) has revised its price target for 3M Company (MMM, Financial), reducing it from $179 to $170 while maintaining a Buy rating for the stock. The decision comes as part of an analysis of the Industrials/Multi-Industry sector's upcoming first-quarter earnings. Although BofA anticipates that these earnings will meet or surpass expectations, the firm has adjusted its estimates due to growing uncertainties and existing tariff conditions.
The adjustment in price target follows a recent development where a 90-day pause on reciprocal tariffs was announced on April 9. Despite this temporary relief, the analyst remains cautious, suggesting that the underlying uncertainties and tariffs continue to pose potential challenges for the company's performance and projections.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 15 analysts, the average target price for 3M Co (MMM, Financial) is $151.82 with a high estimate of $184.00 and a low estimate of $83.00. The average target implies an upside of 11.67% from the current price of $135.95. More detailed estimate data can be found on the 3M Co (MMM) Forecast page.
Based on the consensus recommendation from 19 brokerage firms, 3M Co's (MMM, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for 3M Co (MMM, Financial) in one year is $88.18, suggesting a downside of 35.14% from the current price of $135.95. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the 3M Co (MMM) Summary page.
