3M stock forecast and price prediction
Updated on:
Apr 16th, 2021
2
3M forecast brief
- 3M stock slightly moved 0.37% to close at $197.48 on the stock market on Thursday.
- Barclays published a bearish rating for 3M last Tuesday, with a target of $180.00
- 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 stock will be priced tomorrow. Banks and financial organisations post their analysis forecasting how a stock will performance in the future.
Along with buy or sell recommendations, brokerage institutions publish their price forecasts based on the stock price action and the company fundamental data. Most of these predictions follow the publication of new fundamental information by the company, and many times. If you are a small trader you shouldn't buy or sell based on these projections.
Averaging all price targets exposed below, the forecasted price for 3M stock is $192.80. 3M closed at $197.48 on Thursday, so the target price is expecting a decrease by 2.37%.
| Brokerage firm | Price target |
|---|---|
| Mar 23rd, 2021 | |
| Credit Suisse Group | $197.00 → $202.00 |
| Mar 29th, 2021 | |
| Credit Suisse Group | $197.00 → $202.00 |
| Apr 6th, 2021 | |
| Barclays | $163.00 → $180.00 |
| Apr 12th, 2021 | |
| Morgan Stanley | $188.00 → $200.00 |
| Apr 13th, 2021 | |
| Barclays | $163.00 → $180.00 |
Analysts recommendations
In the last 30 days, 5 analyst ratings were published for 3M
| Brokerage firm | Rating |
|---|---|
| Mar 23rd, 2021 | |
| Credit Suisse Group | Buy |
| Mar 29th, 2021 | |
| Credit Suisse Group | Buy |
| Apr 6th, 2021 | |
| Barclays | Sell |
| Apr 12th, 2021 | |
| Morgan Stanley | |
| Apr 13th, 2021 | |
| Barclays | Sell |
Earnings and financials
3M Company ($MMM) reported earnings of $2.38 per share last January, upping the Wall St consensus estimate of $2.15 per share. This Q4 report means an earnings surprise of 10.70%. On the contrary, the company reported revenue for Q4 was $8.6 billion consistent with analysts' forecasts.
This compares to Earnings of $2.15 per share a year ago, so reported EPS means a gain of 10.70%. Looking at turnover, figures moved up a 5.82% compared to $81.1B year over year.3M ($MMM) releases Q1 financial report on April 27. Estimated for this quarter is $2.29, compared to $2.38 that was reported for Q4.
3M stock: buy or sell?
Is $MMM stock a buy?
3M received 5 ratings in the last 30 days: 2 bullish, 2 bearish and 0 neutral.In the current situation of 3M there is not any eligible buy setup. This doesn't mean we expect a selloff for $MMM in the next few days, or that it may not climb higher. Simply, it doesn't match our recommended trading systems
Is it time to sell 3M stock?
In the current situation of 3M there is not any eligible sell setup, so 3M stock holders with operations in green can keep their positions
3M stock technical predictions
3M stock started an uptrend last January, and grew an amazing 21.87%. Rising peaks and troughs can be seen easily on a chart and how price provided very few buy points on the breakouts. Latest low was last February, when price bounced at $173.76. 3M broke out above $185.74 (its last top) in mid-March. That breakout was a good buying opportunity
SMAs overview
Supports and resistances
The current resistances are:
The current support levels are:
Bollinger bands
The price is trading very close to the upper Bollinger band, poiting some level of overbought in recent sessions. This is not a bearish indicator, as price can move in these levels for many days and weeks
Relative strength index
The RSI dropped below the overbought level of 70 last Tuesday after just crossing to the overbough zone for just one day (weak signal). The RSI value on Thursday was 67.32
3M stock price history
3M IPO was on Jan 2nd, 1970 priced at $1.47 per share1. Since then, MMM stock surged by 13,334.01%, with an average of 261.45% per year. If you had invested $1,000USD in 3M stock on the IPO, it would worth $134,340.14 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 have any knowledge of the specific situations of the reader, his or her finances or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Viewpoints are published for general educational reasons only3M summary
| Thursday, April 15th, 2021 | |
|---|---|
| Open | $197.28 |
| Close | $197.48 |
| Day range | $195.91 - $197.81 |
| Previous close | $196.75 |
| Session gain | 0.37% |
| Average true range | $3.18 |
| 50d mov avg | $185.09 |
| 100d mov avg | $178.29 |
| 200d mov avg | $168.84 |
| Earnings date | April 27th, 2021 |