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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InIn a move reflecting renewed confidence in the U.S. industrial sector, Goldman Sachs has reinstated coverage on 3M Company (MMM) with a Buy rating and a price target of $190. This upgrade aligns with optimistic guidance from CEO Bill Brown, who expects organic growth to exceed 3% in the second quarter. Management further anticipates that business momentum will accelerate throughout the second half of 2026 as operational improvements take hold.
This bullish outlook comes as 3M works to distance itself from legacy legal liabilities that have historically weighed on its valuation relative to industrial peers. Per market data, 3M's current valuation remains competitive against rivals such as Honeywell and Illinois Tool Works. Analysts suggest that as legal settlements become more predictable, the market is likely to refocus on the company's core manufacturing efficiency and the simplified structure following the spin-off of its healthcare unit.
Regarding market performance, MMM shares stood at $159.96 at close July 01, 2026, having reached an intraday high of $163. Traders are currently monitoring global industrial health following the China Manufacturing PMI release on June 30, which printed at 50.3. Additionally, the recent U.S. Wholesale Inventories data showing a 0.3% monthly increase will be a key metric for investors assessing 3M's inventory cycle and demand forecasting in the coming months.