Bernstein boosts 3M target to USD 171.00 on stronger innovation outlook
Bernstein has raised its target price for 3M Company (ISIN US88579Y1010, ticker: MMM) from USD 145.00 to USD 171.00, following a positive reassessment of the conglomerate's innovation pipeline. On September 25, 2026, the analyst upgraded 3M from Underperform to Market Perform, citing structural improvements in product commercialization and a stronger research and development organization. Bernstein also increased its long-term organic growth assumption for 3M from 3.00 percent to a range of 3.50 percent to 4.00 percent.
3M's second-quarter 2026 financial results, reported on July 21, 2026, showed adjusted sales of USD 6.5 billion, adjusted earnings per share of USD 2.40, and adjusted free cash flow of USD 1.3 billion. GAAP sales grew 2.40 percent year over year to USD 6.5 billion, with a 15.10 percent operating margin. The company's market capitalization stood at USD 83.5 billion as of October 2, 2026.
As of October 5, 2026, 3M was trading at EUR 144.15 on Lang & Schwarz, up EUR 0.02 or 0.01 percent from the prior close. On the NYSE, the stock closed at USD 161.89 on October 2, 2026, within a 52-week range of USD 139.34 to USD 184.90.
The upgraded target price reflects Bernstein's less negative view of 3M's innovation pipeline, although the rating remains at Market Perform, indicating a measured signal rather than a broad call to buy.