JP Morgan Raises 3M (MMM) Price Target to $191

JP Morgan reiterated its Overweight rating on 3M Company MMM on October 21, 2026, while raising its price target from $185.00 to $191.00. According to a research note released on that date, the firm adjusted its expectations upward for the industrial manufacturer as shares continued trading near the upper range of their recent activity.

MMM 3M Company

$171.12 ▲ +7.24% year to date

1M 3M YTD

Daily close · Oct 21, 2026

JP Morgan's Call on 3M Company

In its October 21, 2026 note, JP Morgan maintained an Overweight rating on the stock and bumped its target up to $191.00 from $185.00. This follows an earlier update from the firm on October 9, 2026, when it held an Overweight rating with a $185.00 target. Other Wall Street firms have also chimed in recently, including RBC Capital, which reiterated its Underperform rating on October 21, 2026, and lifted its target from $132.00 to $135.00. Wells Fargo initiated coverage on September 25, 2026, with an Equal-Weight rating and a $195.00 target, while Bernstein upgraded the stock to Market Perform on the same day with a $171.00 target.

Other Institutional Activity in 3M Company

State Farm Mutual Automobile Insurance Co held steady on its holdings, ending the period reported on June 30, 2026, with 7,934,035 shares worth about $1,358,148,053.

3M Company Stock Up 3.6%

Shares of 3M Company recently traded around $170.67 as of October 21, 2026, down roughly 0.3% from their event-day close of $171.18. The stock trades above its 50-day moving average of $169.87 and sits comfortably above its 200-day moving average of $160.72. The recent price sits about 7.7% below the 52-week high of $184.90 and roughly 22.5% above the 52-week low of $139.34.

Recent Earnings

For the trailing twelve months, 3M Company generated $25,180,000,256.00 in revenue with an earnings per share total of $5.63. The company reported a net profit margin of 11.9% and a return on equity of 81.9%.

Dividend

3M Company pays an annual dividend rate of $3.12 per share, translating to a dividend yield of 1.93%. The firm funds this payout using 53.6% of its earnings.

Insider Buying and Selling at 3M Company

Company insiders executed several transactions prior to the rating update. Kevin H Rhodes sold 7,669 shares on July 22, 2026, at an average price of $171.20 for a total value of $1,312,933.00. John Patrick Banovetz sold 7,880 shares on July 23, 2026, at $170.44 per share, totaling $1,343,067.00. Theresa E Reinseth sold 924 shares on July 23, 2026, at $169.42 for a total of $156,544.00. Rodriguez Beatriz Karina Chavez sold 3,635 shares on August 5, 2026, at $182.51 per share, worth $663,430.00. None of these transactions were reported under a Rule 10b5-1 trading plan.

About 3M Company

Headquartered in Saint Paul, Minnesota, 3M Company operates as a diversified technology and manufacturing business serving industrial, safety, consumer, and electronics markets worldwide. Led by CEO Mr. William M. Brown, the enterprise employs over 60,500 people and manages a broad portfolio of everyday consumer goods and specialized industrial solutions.

Bottom Line

JP Morgan's increased price target reflects growing confidence in 3M Company's operational direction. Investors should watch for upcoming earnings reports and further institutional filings to gauge whether the stock can close the gap toward Wall Street's consensus expectations.