JP Morgan Cuts 3M (MMM) Price Target to $185
JP Morgan has reaffirmed its Overweight rating on 3M Company, adjusting the price target to $185, a 13.04% upside from the current price.
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JP Morgan cut its price target on 3M Company ($MMM) to $185 from $205 on October 9, 2026, and rates the stock "Overweight".
Since the rating, $MMM is up 3.0% after 1 week and up 3.0% to date (from the $159.96 close on Oct 9, 2026).
MMM
3M Company
Key Points
- On October 9, 2026, JP Morgan reiterated its Overweight rating on 3M Company, lowering the price target from $205 to $185.
- JP Morgan's $185 price target implies 13.04% upside from 3M Company's ($MMM) current $163.66 share price.
- As of October 16, 2026, 3M shares traded around $163.66, which is about 11.5% below the new analyst target.
- 3M Company has a revenue of about $25.2 billion and a P/E ratio of approximately 29.4.
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JP Morgan has reaffirmed its Overweight rating on 3M Company (NYSE: MMM) on October 9, 2026, adjusting the price target down from $205 to $185. This decision comes as the stock trades below the target, with shares recently priced at $163.66 as of October 16, 2026.
JP Morgan's Call on 3M
JP Morgan maintains its Overweight rating on 3M, now with a price target of $185, down from the previous $205. This indicates a belief that the stock still has upside potential, even as it currently trades below this target.
Other Institutional Activity in 3M
Several institutional investors have adjusted their positions in 3M. Blackrock Inc. grew its holdings by 2,384,910 shares, bringing its total to about 45 million shares valued at around $7.4 billion. State Street Corporation added 105,350 shares, ending with approximately 27.8 million shares worth about $4.6 billion. Conversely, JPMorgan Chase & Co. reduced its stake by 6,996,953 shares, leaving it with about 39.4 million shares valued at roughly $6.5 billion.
3M Company Stock Down 0.5%
As of October 16, 2026, 3M shares are trading at $163.66, which is about 11.5% below the analyst's new target of $185. The stock is also trading below its 50-day moving average of $170.61, reflecting a 4.1% downside, but it remains above its 52-week low of $139.34 by 17.5%.
$MMM price target
3M Company daily closes and this analyst's $185 target. Not advice.
Recent Earnings
3M reported trailing twelve-month revenue of approximately $25.2 billion, with an EPS of $5.63. The company has a net margin of 11.9% and a return on equity of 81.9%. Its next earnings report is scheduled for October 20, 2026.
Insider Buying and Selling at 3M Company
Recent insider trades include several sales by officers. Kevin H. Rhodes sold 7,669 shares at an average price of $171.20 on July 22, 2026, totaling about $1.31 million. John Patrick Banovetz sold 7,880 shares at $170.44 on July 23, 2026, for roughly $1.34 million. Additionally, Theresa E. Reinseth sold 924 shares for around $156,544.
Analysts Set New Price Targets
On October 9, 2026, JP Morgan maintained its Overweight rating and adjusted the price target for 3M to $185 from $205. The consensus among analysts shows a mean target price of $186.15, with 18 opinions suggesting a buy rating.
About 3M Company
3M Company is a diversified technology firm based in Saint Paul, MN. It operates in various sectors, including Safety and Industrial, Transportation and Electronics, and Consumer products. The company is known for its innovative solutions and has a significant presence in both domestic and international markets.
Bottom Line
Investors should keep an eye on 3M's upcoming earnings report on October 20, 2026, and how the stock performs relative to analyst targets. The recent adjustments by JP Morgan and other institutional investors may indicate shifts in market sentiment towards the company.
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Source: JP Morgan's rating change on $MMM (Oct 9, 2026). Written by software, not financial advice. How we make alerts