Deutsche Bank raises 3M stock target to USD 194.00

Deutsche Bank has adjusted its outlook for 3M Company (ISIN US88579Y1010, ticker MMM), raising its price target from USD 192.00 to USD 194.00 on September 30, 2026. Despite this upward revision, the bank maintained a Hold rating on the stock. The new target represents a 1.04 percent increase over the previous target, though it remains 6.42 percent above the current euro-denominated trading price of EUR 145.50, as reported by Lang & Schwarz on October 6, 2026.

The broader analyst community remains divided, with MarketBeat indicating seven Buy ratings, seven Hold ratings, and one Sell rating among 15 analysts. The average one-year target price stands at USD 181.36, with Wells Fargo initiating coverage at Equal Weight and a USD 195.00 target on September 24, 2026.

3M's second-quarter performance, reported on June 30, 2026, showed adjusted sales of USD 6.50 billion, a 5.40 percent year-over-year increase in adjusted organic sales growth, and adjusted earnings per share of USD 2.40. GAAP sales were also USD 6.50 billion, up 2.40 percent year over year, with a GAAP operating margin of 15.10 percent. The adjusted operating margin was significantly higher at 24.90 percent.

As of October 5, 2026, 3M's market capitalization was USD 84.2 billion, with a 52-week range of USD 139.34 to USD 184.90. The current euro quote stands 21.31 percent below the 52-week high, raising questions about whether the adjusted growth profile can support the revised valuation targets while GAAP margins lag behind adjusted margins.