Street View: Demand looks stable for 3M but tariff challenges remain

ReutersApr 23, 2025 1:42 PM

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U.S. industrial conglomerate 3M Co MMM.N on Tuesday beat Wall St expectations for Q1 profit on cost cutting, even as it warned of a potential hit to 2025 earnings from trade tensions

Median PT of 19 brokerages covering the stock is $153 - data compiled by LSEG

TARIFF TANGO IN THE INDUSTRIAL ARENA

J.P.Morgan ("overweight", PT: $140) views co's strong margin performance positively despite tariff impacts, but remain cautious due to weaker demand in key sectors

Barclays ("overweight", PT: $164) says co's early cycle and industrial exposure are favorable, but price hikes and tariffs may impact volume and earnings

Morgan Stanley ("underweight", PT: $125) says while co points to healthy Q1 orders as evidence of stable demand, they believe this reflects tariff pre-buy, which boosts Q2 sales but ultimately sets co for H2 destock

RBC ("underperform", PT: $100) sees co successfully sidestepping tariff fallout for now, with no meaningful impact from customer pre-buy, distributor destocking, or a cut to its growth outlook

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