Saint Paul, Minnesota-based 3M Company (MMM) provides diversified technology services, conducting operations in electronics, telecommunications, industrial, consumer and office, health care, safety, and other markets. Valued at $74.3 billion by market cap, the company businesses share technologies, manufacturing operations, marketing channels, and other resources. 

Shares of this conglomerate giant have outperformed the broader market over the past year. MMM has gained 45.1% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 8.6%. In 2025, MMM stock is up 7.4%, surpassing the SPX’s 4.3% decline on a YTD basis. 

Zooming in further, MMM’s outperformance is also apparent compared to the Industrial Select Sector SPDR Fund (XLI). The exchange-traded fund has gained about 7.9% over the past year. Moreover, MMM’s returns on a YTD basis outshine the ETF’s 1.8% gains over the same time frame.

3M's outperformance can be attributed to launching 62 new products in Q1, with 215 more products planned to launch by 2025 and over 1,000 new products in the next three years. 3M has a diverse portfolio of over 100,000 products across various industries. This diversification reduces its reliance on any single industry, helping to hedge against market fluctuations. 

On Apr. 22, MMM shares closed up more than 8% after reporting its Q1 results. Its adjusted revenue was $5.8 billion, up marginally year over year. The company’s adjusted EPS of $1.88 exceeded analyst estimates of $1.77. 

For the current fiscal year, ending in December, analysts expect MMM’s EPS to grow 4.9% to $7.66 on a diluted basis. The company’s earnings surprise history is impressive. It beat the consensus estimate in each of the last four quarters.

Among the 16 analysts covering MMM stock, the consensus is a “Moderate Buy.” That’s based on 10 “Strong Buy” ratings, three “Holds,” one “Moderate Sell,” and two “Strong Sells.”

The configuration is consistent over the past three months. 

On Apr. 28, Argus analyst John Eade kept a “Buy” rating on MMM and lowered the price target to $155, implying a potential upside of 11.8% from current levels.

The mean price target of $150.75 represents an 8.7% premium to MMM’s current price levels. The Street-high price target of $184 suggests a notable upside potential of 32.7%.