Deutsche Bank downgrades 3M to 'hold' on limited upside potential

Shares of Post-it maker 3M MMM.N fall nearly 1% to $165.63 before the bell

Deutsche Bank downgrades stock rating to "hold" from "buy"; trims PT to $178 from $199

Brokerage says co's CEO, Bill Brown, has outlined a credible 2025–27 plan and provided regular updates showing faster-than-expected progress on margin expansion

As a result, pushback to our bullish view on 3M’s margin opportunity has largely disappeared, and sell-side estimates have now caught up, says Deutsche Bank

"We now see only very low single-digit upside to consensus forecasts through 2028"- Brokerage

Average rating of 20 analysts is "buy"; median PT $180 - data compiled by LSEG

As of last close, co is up nearly 30% YTD