3M, the Industrials sector company, was revisited by a Wall Street analyst today. Analyst Andrew Obin from Bank of America Securities maintained a Buy rating on the stock and has a $170.00 price target.
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Andrew Obin has given his Buy rating due to a combination of factors, primarily driven by 3M’s strong second-quarter performance which exceeded expectations. The company’s earnings per share (EPS) of $2.16 surpassed both the consensus estimate of $2.01 and the analyst’s own estimate of $1.99, with significant contributions from the Safety & Industrial and Consumer segments.
Furthermore, 3M’s management has raised the EPS guidance for 2025, now fully accounting for tariff impacts, which suggests a more favorable outlook than previously anticipated. The operating margin and free cash flow conversion guidance have also been improved, indicating robust financial health. Despite a slight reduction in the full-year organic sales guidance, the overall positive adjustments to forecasts and the company’s ability to manage external challenges like tariffs and foreign exchange impacts support the Buy rating.
According to TipRanks, Obin is a 5-star analyst with an average return of 14.9% and a 66.67% success rate. Obin covers the Industrials sector, focusing on stocks such as Honeywell International, Vertiv Holdings, and Ametek.
In another report released on July 9, Barclays also maintained a Buy rating on the stock with a $170.00 price target.