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

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