In a research note last week, Chigusa Katoku, a JPMorgan analyst boosted her target for the MMM stock price from neutral to overweight. She hiked the target from $178 to $180, arguing that the company will benefit from artificial intelligence demand. Her argument is that AI spending will benefit several sectors, including those that 3M serves. Her target suggests that the stock may jump by about 11% from the current level. She said:
"We see growth taking hold at 3M, which is required to drive the next leg of EPS growth, with short-cycle indicators continuing to be supportive and AI/datacenter driven demand broadening out into parts of the economy outside of the obvious beneficiaries."
