3M Firm MMM reported better-than-expected fourth-quarter 2024 outcomes and initiated 2025 steering on Tuesday.
The corporate reported web gross sales of $6.01 billion, a slight improve of 0.13% year-over-year. Adjusted web gross sales totaled $5.808 billion, up 2.2% YoY, beating the consensus of $5.781 billion. Adjusted EPS was $1.68, down 2% YoY, beating the consensus of $1.66.
3M mentioned it anticipates adjusted complete gross sales development of 0.5% to 1.5%, pushed by adjusted natural gross sales development of two% to three%. The corporate initiatives adjusted EPS within the vary of $7.60 to $7.90 versus consensus of $7.78.
3M shares gained 4.2% to shut at $146.89 on Tuesday.
These analysts made adjustments to their worth targets on 3M following earnings announcement.
- Wells Fargo analyst Joe O’Dea upgraded the ranking for 3M from Equal-Weight to Obese and raised the worth goal from $140 to $170.
- JP Morgan analyst Stephen Tusa maintained 3M with an Obese ranking and raised the worth goal from $162 to $165.
- Barclays analyst Julian Mitchell maintained the inventory with an Obese ranking and boosted the worth goal from $161 to $165.
Contemplating shopping for MMM inventory? Right here’s what analysts assume:
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