The Week

3M fell 2.58% for the week to close at $174.34. That trailed the S&P 500, which rose 0.49%, meaning the stock underperformed by about 3.07 percentage points. The week started steady, with 3M trading between $178 and $180 through Wednesday (Aug 26). Selling picked up on Thursday (Aug 27) with a drop to $178.83, and Friday (Aug 28) saw the heaviest pressure: the stock slid as low as $173.57 before settling at $174.34. There was no major company-specific trigger during the week; the move was largely part of a broader pullback that hit this name harder than the market.

Analyst Ratings

Across 18 brokers covering the stock, 8 rate it buy, 1 overweight, 6 hold, and 3 underweight; none rate it sell. The consensus recommendation is buy, with a consensus target of $185.57, sitting about 6.44% above the current price. Individual targets range from $120.00 to $219.00, a fairly wide spread that reflects divided views. Within the industrial conglomerates group of 10 stocks, 3M ranks second on analyst ratings.

The Week Ahead

Monday (Aug 31) brings the Dallas Fed manufacturing business activity index, previously at 1.3. Tuesday (Sep 1) is the densest session: the S&P Global manufacturing PMI final, ISM manufacturing PMI, and JOLTS job openings. ISM manufacturing PMI was 55.6 previously, with a consensus estimate of 55.2. Wednesday (Sep 2) adds ADP private employment, factory orders, and EIA weekly crude inventories. For an industrial conglomerate like 3M, the manufacturing and labour-market prints may shape near-term expectations for the name.

This article is generated by LongbridgeAI from market data, for information only and not investment advice.