Fintel reports that on September 25, 2026, Wells Fargo initiated coverage of 3M (NYSE:MMM) (XTRA:MMM) with a Equal-Weight recommendation. On September 24, 2026, the day prior to the rating action, the stock closed at $167.52. On the day of the initiation, September 25, 2026, the stock closed at $169.50. Prior to this, on April 22, 2026, Wells Fargo maintained its rating on the company at Overweight.
3M Company, based in the United States, operates globally in the conglomerate sector with a focused expansion in the fields of industry, worker safety, healthcare, and consumer goods. According to a Form 8-K filing dated August 19, 2026, the company entered into a new credit agreement on August 17, 2026, with JPMorgan Chase Bank, N.A., as administrative agent, and certain subsidiaries and financial institutions. The agreement provides a $4.25 billion revolving credit facility on an unsecured basis.
In its latest earnings report on July 21, 2026, 3M reported actual earnings per share of 2.4, exceeding the estimated earnings per share of 2.2677, which represents a surprise of +5.83%. The company reported actual revenue of $6,500,000,000.00, compared to the estimated revenue of $6,468,850,222.00. The next earnings announcement is scheduled for October 19, 2026.
As of September 15, 2026, the current consensus target mean for the stock was $185.73, while the median target was $193.80. This mean target represents an implied change of +9.57% from the prior consensus target mean of $184.13 recorded on August 28, 2026, reflecting a consensus target revision of +0.87%.
As of September 1, 2026, the aggregate analyst recommendations for the stock totaled 24, consisting of 4 strong buy, 9 buy, 9 hold, 1 sell, and 1 strong sell. This breakdown represents 54.2% positive, 37.5% hold, and 8.3% negative recommendations. This compares to the prior period as of August 1, 2026, when the total recommendations were 23, consisting of 5 strong buy, 8 buy, 8 hold, 1 sell, and 1 strong sell, representing 56.5% positive, 34.8% hold, and 8.7% negative recommendations.
The stock's latest close of $169.50 on September 25, 2026, represents a one-week price change of +2.18% from the baseline close of $165.89 on September 18, 2026. Over a one-month period, the stock's price changed by -5.50% from the baseline close of $179.37 on August 25, 2026.
Recent analyst actions
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.