3M Results Inevitable; Top Analysts Revise Forecasts Ahead of Earnings Call – 3M (NYSE:MMM)

3M Company MMM will release its second-quarter financial results before the open of trading on Friday, July 26.

Analysts expect the Saint Paul, Minnesota-based company to report quarterly earnings of $1.68 per share, down from $2.17 per share in the same period last year. 3M is expected to post revenue of $5.88 billion, down from $7.87 billion a year earlier, according to Benzinga Pro.

On July 16, 3M completed a strategic investment in Ohmium International, a developer of electrolyzer systems for green hydrogen production.

3M shares rose 0.1% to close Thursday at $103.39.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change, or other variables.

Let’s take a look at how Benzinga’s most accurate analysts assessed its recent performance.

• Barclays Analyst Julian Mitchell maintained an Overweight rating and raised his price target from $118 to $120 on July 10. The analyst has a 77% accuracy rate.
• Wells Fargo analyst Joe O’Dea maintained an Equal-Weight rating and raised the price target from $100 to $110 on July 10. This analyst has an accuracy rate of 81%.
• B of A Securities Analyst Andrew Obin upgraded the stock from Neutral to Buy and raised his price target from $105 to $120 on June 7. This analyst has an accuracy rate of 71%.
• Vertical research Analyst Jeffrey Sprague upgraded the stock from “Hold” to “Buy” and raised his price target from $92 to $140 on May 16. This analyst has an accuracy rate of 79%.
• Citigroup Analyst Andrew Kaplowitz maintained a Neutral rating and raised his price target from $98 to $100 on May 1. This analyst has an accuracy rate of 86%.

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