3M stock forecast and price prediction
Updated on:
Jan 27th, 2021
2
3M forecast brief
- 3M stock skyrocketed 3.26% to close at $175.95 on the stock market on Tuesday.
- 3M released its earnings report on Tuesday
- From the chart point view, price is drawing an scaled downtrend since last November with lower tops and lower bottoms. this downtrend marked a -2.05% loss.
- Royal Bank of Canada posted a neutral rating for 3M last Sunday
- 3M Company develops, manufactures, and markets various products worldwide. It operates through four business segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer.
3M stock price forecast
Nobody can predict how much a share will be priced in the future. Banks and financial organisations post their analysis forecasting how a particular stock will performance in the future.
Along with buy or sell recommendations, brokerage institutions publish their price target based on the stock price action and the company fundamental data. Most of these estimates follow the release of new financial information by the company, and usually. If you are a small investor you shouldn't invest based on these projections.
The average price target for 3M stock calculated from the table below is $179.00. 3M closed at $175.95 on Tuesday, that is a 1.70% than the forecasted price.
| Brokerage firm | Price target |
|---|---|
| Jan 7th, 2021 | |
| Bank of America | $170.00 |
| Jan 12th, 2021 | |
| Morgan Stanley | $176.00 → $188.00 |
| Jan 24th, 2021 | |
| Royal Bank of Canada | Not available |
Analysts recommendations
In the last 30 days, 3 ratings were published for 3M
| Brokerage firm | Rating |
|---|---|
| Jan 7th, 2021 | |
| Bank of America | Neutral → Sell |
| Jan 12th, 2021 | |
| Morgan Stanley | |
| Jan 24th, 2021 | |
| Royal Bank of Canada | Neutral |
Earnings and financials
On Tuesday, 3M Company ($MMM) posted EPS for that beat Wall St. expectations. Quarterly EPS was $2.38 per share vs the estimates of $2.15. This Q4 report represents an earnings surprise of 10.70%. On the contrary, reported sales were $8.6 billion, in line with analysts' forecasts.
This compares to Earnings of $2.15 per share a year ago, so current EPS is a gain of 10.70%. Looking at revenue, figures scarcely moved compared to $79.9B year over year.3M ($MMM) is hosting the earnings call next April.
3M stock: buy or sell?
Is 3M good stock to buy now?
3M received 3 ratings in the last 30 days: 0 bullish, 1 bearish and 1 neutral.Currently, 3M stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean $MMM will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems
Is it time to sell 3M stock?
Currently, 3M stock doesn't match any of our preferred sell setups, so if you hold 3M shares and your operation is in profit probably is not time to sell now
3M stock price action predictions
3M accumulates a selloff of -2.05% since its latest top last November at $179.63. Like in all downtrends, the stock oscillates drawing lower highs and lows. In this case, we have seen 2 consecutive lower tops.
SMAs overview
Supports and resistances
The current resistances are:
The current support levels are:
Bollinger bands
Since the price broke down the lower band on January 12, the price rebounded by 7.23%. The price is moving very close to the upper Bollinger band, signaling some level of overbought in recent sessions. This is not a sell point, as price can move in these levels for many days and weeks
Relative strength index
The has been between the the levels of 30 and 70 for many weeks, and therefore, without this indicator really being helpful in making any decisions.
3M stock price history
3M went public priced at an adjusted price1 of $1.48 on Jan 1970. Since then, MMM stock surged by 11,788.51%, with an average of 231.15% per year. An investment of thousand dollars on Jan 1970 would be valued $118,885.14 today.
1: Adjusted price after possible price splits or reverse-splits
Important:
The comments expressed in this post are personal and should not be followed as recommendations for you to buy or sell stocks. The author of this report does not know the individual situations of the reader, his or her own finances or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Viewpoints are provided for education reasons only3M summary
| Tuesday, January 26th, 2021 | |
|---|---|
| Open | $173.78 |
| Close | $175.95 |
| Day range | $172.08 - $176.84 |
| Previous close | $170.39 |
| Session gain | 3.26% |
| Average true range | $4.14 |
| 50d mov avg | $172.02 |
| 100d mov avg | $167.80 |
| 200d mov avg | $159.92 |
| Earnings date | April 27th, 2021 |