3M forecasts 2025 profit growth as cost-cut efforts pay off
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3M (MMM) PT Raised to $170 at Wolfe Research
January 22, 2025 8:05 AM ESTWolfe Research analyst Nigel Coe raised the price target on 3M (NYSE: MMM) to $170.00 (from $162.00) while maintaining a Outperform rating.
The analyst comments "As we highlighted in our Comments (LINK), 3Ms quarter and outlook ticked a number of important boxes with earnings at the high end of the range (supported by solid cash generation) and an EPS guidance range of $7.60-7.90 that comfortably bracketed Street estimates, but clearly exceeded buyside fears. Another $170m of insurance receipts during the... More
