MMM Price Prediction Next Week
Based on the provided data and recent market activity, here's the analysis for MMM's price prediction for next week:
Technical Analysis
The stock is currently trading at $149.43, showing strong momentum with RSI at 79.61, indicating overbought conditions. Key technical levels:
- Support: $132.47 (Fibonacci S1)
- Resistance: $149.69 (Fibonacci R1)
- Next resistance: $155.01 (Fibonacci R2)
News Sentiment and Fundamental Drivers
- Q4'24 results exceeded expectations with adjusted revenue of $5.81 billion and EPS of $1.68
- All business segments posted positive organic growth in Q4, first time in nine quarters
- Management expects Q1 2025 sales to be similar to Q4 2024 levels
- Recent analyst actions have been mostly positive, with several price target increases to $165-170 range
Price Projection for Next Week Based on technical indicators and recent momentum:
Likely scenario (60% probability):
- Price range: $146-150
- Slight pullback due to overbought conditions and technical resistance around $150
Bullish scenario (25% probability):
- Price range: $150-155
- Break above $150 could trigger move toward Fibonacci R2 at $155.01
Bearish scenario (15% probability):
- Price range: $140-145
- Deeper correction if market sentiment turns negative
Trading Recommendation SELL at current levels ($149.43). Rationale:
- Stock is overbought (RSI 79.61)
- Trading near key resistance level
- Limited upside potential after recent 66% gain in 2024
- Current valuation at 19x forward earnings appears full
MMM Similar Chart Price Prediction
The price of MMM is predicted to go up 6.96%, based on the high correlation periods with INVE. The similarity of these two price pattern on the periods is 98.64%.
MMM
INVE
Up: 6.96%Similarity: 98.64%
MMM Revenue Forecast
MMM EPS Forecast
MMM FAQs
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MMM VS S&P500
3M continues to emphasize innovation and keeps competitors away with generous levels of R&D spending, which typically totals nearly 6% of net sales.
The firm continues to benefit from its shared technology platforms, which are applicable to multiple use cases. Technology allows 3M to charge a 10%-30% premium for its products but also brings down its unit costs.
3M is likely to profit from high-conviction high-probability bets. which, coupled with portfolio pruning in its weaker consumer-facing businesses, should allow it to accelerate growth relative to recent experience.
MMM Analyst's Forecast
Andrew Obin
B of A Securities
Strong Buy
Price Target
$160 → $175
Upside
+17.36%
Barclays raised the firm's price target on 3M to $165 from $161 and keeps an Overweight rating on the shares following the Q4 report. The company's operating margins "remain very lumpy" quarter-to-quarter, but its year-over-year operational earnings growth is steadier, the analyst tells investors in a research note. The firm says expectations are not low into the capital markets day, but the stock's valuation remains inexpensive.
Andrew Kaplowitz
Citigroup
Hold
Price Target
$142 → $152
Upside
+1.93%
Julian Mitchell
Barclays
Buy
Price Target
$161 → $165
Upside
+10.65%