3M Company (NYSE:MMM) on Tuesday reported better-than-expected second-quarter results and raised its full-year guidance.The company posted adjusted earnings of $2.40 per share, beating the analyst consensus estimate of $2.25. Revenue rose 2.4% year over year to $6.50 billion, topping expectations of $6.41 billion.3M increased its 2026 adjusted earnings forecast to a range of $8.80 to $8.95 per share from its prior outlook of $8.50 to $8.70. The new range is above the Wall Street consensus estimate of $8.75.The company also updated its full-year revenue outlook to a range of $23.19 billion to $25.37 billion, compared with analysts’ estimate of $25.15 billion.3M shares fell 2.5% to trade at $168.72 on Wednesday.These analysts made changes to their price targets on 3M following earnings announcement.
RBC Capital analyst Deane Dray maintained the stock with an Underperform rating and raised the price target from $123 to $132.
Citigroup analyst Andrew Kaplowitz maintained the stock with a Neutral and raised the price target from $166 to $183.
