3M Raises EUR 1 Billion in Eurobonds Amid Earnings Beat and Guidance Upgrade

3M Company has raised around EUR 1 billion in Eurobonds as its shares continue to trade below several fair-value estimates. The diversified industrial group's funding move comes after stronger second-quarter 2026 results and a higher earnings guidance range for the year.

The fixed-rate Eurobonds will provide long-term funding in the European market, and analysts see potential uses for the funds, including supporting growth investments or balancing the balance sheet. One widely followed valuation model puts 3M's fair value at around USD 181.85 per share, implying a roughly 10.3 percent discount from its recent closing price.

The company's Q2 2026 earnings beat consensus expectations, with revenue up by about USD 0.1 billion and earnings per share beating the consensus by USD 0.42. 3M also raised its adjusted EPS outlook for the full year 2026 to a range of USD 8.80 to USD 8.95.

Several major Wall Street houses have updated their views on 3M stock following the Q2 2026 earnings beat and guidance raise. Goldman Sachs, for example, raised its price target to USD 202 from USD 190 while reiterating a Buy rating, pointing to stronger Q2 results, efficiency improvements, and a growing product pipeline.