3M Crushes Q2 Expectations, Analysts Bullish on Future
3M Company (MMM), headquartered in Saint Paul, Minnesota, is a global technology and manufacturing giant that develops products for various industries. The company has operations in over 70 countries and its products are sold worldwide.
In its recent fiscal Q2 2026 results, 3M comfortably beat Wall Street's expectations, with shares jumping 7.3% on July 21. Adjusted sales rose 5.5% year over year to $6.5 billion, while adjusted EPS climbed 11.1% to $2.40.
The company generated $1 billion in operating cash flow and $1.3 billion in adjusted free cash flow, showcasing the strength of its business model. Management has raised its FY2026 adjusted EPS guidance to $8.80-$8.95, up from the previous range of $8.50-$8.70.
The consensus among 17 analysts covering MMM stock is a 'Moderate Buy,' with nine 'Strong Buy' ratings and two 'Strong Sells.' The mean price target of $186.12 represents a 5% premium to MMM's current price levels, while the Street-high price target of $218 suggests a notable upside potential of 23%.