JPMorgan downgraded 3M (MMM) to Neutral from Overweight with an unchanged price target of $182. The firm adjusted ratings in the electrical equipment and multi-industry group as part of its 2026 outlook. The analyst is more cautious on 3M, saying its revenue growth could disappoint. JPMorgan cites the company’s below-sector earnings growth potential in the near term after having materially outperformed since new management came in for the downgrade.
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