Wells Fargo Upgrades 3M to Hold Rating Amid Mixed Analyst Sentiment

3M (NYSE:MMM) has received an upgrade from Wells Fargo & Company to 'hold' rating. This decision follows various other research analyst upgrades and downgrades, with some firms raising their price targets while others maintained a hold or neutral stance.

The latest upgrade by Wells Fargo comes as part of a broader trend in 3M's stock performance. Despite fluctuations, the company's market capitalization remains at $87.35 billion, with a price-to-earnings ratio of 30.08 and a beta of 1.01.

3M reported its earnings results on July 21st, beating consensus estimates with a quarterly EPS of $2.40. Revenue for the quarter came in at $6.50 billion, representing a 2.5% increase over the same period last year.

The company has set its FY 2026 guidance at 8.800-8.950 EPS, and analysts expect an annual EPS of 8.96. Insider Karin Chavez sold 3,635 shares on August 5th, reducing their position by 20.57% in the process.

Notably, institutional investors and hedge funds own approximately 65.25% of 3M's stock, a significant percentage that underscores the company's influence within its industry.