UBS Reiterates Buy Rating on 3M (MMM)

UBS analyst Amit Mehrotra reiterated a Buy rating and $184.00 price target on 3M (NYSE: MMM).

The analyst commented, "Post MMM’s 1Q results and our call back with the company, we are raising our previously Street-high 2025 EPS estimate to $8.00 (from $7.93 and vs. Consensus of $7.73). While the company reiterated its $7.60-7.90 guidance range, which is positive, we believe today’s disclosures imply even more upside than we had previously anticipated. For example, the company’s guidance now includes about 10c of “contingency”/cushion that didn’t exist before, and we think there’s about 15c of add’l upside based on current FX rates (currency represents a 15c headwind to 2025 EPS, but FX moves post “Liberation Day” should erase this headwind entirely, based on our estimates). We also see evidence of the company winning back market share, as evidenced by improving on-time/ in-full performance, order trends and organic growth outlook. The bottom line is our positive thesis on MMM shares remains fully intact, and we see the combination of revenue and cost opportunity driving further upside in shares. Maintain Buy and Top Pick across our entire coverage universe."

For an analyst ratings summary and ratings history on 3M click here. For more ratings news on 3M click here.

Shares of 3M closed at $136.33 yesterday.

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