** Industrial conglomerate 3M MMM.N on Tuesday forecast annual profit slightly below Wall Street expectations, citing a tough and uneven demand environment even as it steps up cost controls to protect margins
** Median PT of 20 brokerages covering the stock is $175 - LSEG data
RUNNING RACE WITH ONE SHOE UNTIED
** Citigroup ("neutral," PT: $175) says margin improvement effort is still in early stages, and continued cost and productivity measures should help support earnings growth next year and beyond, even as higher investments and tariff-related costs create near-term pressure
** Morgan Stanley ("equal-weight," PT: $165) said 2026 guidance was broadly in line but clouded by a softer Q4 exit rate, mainly in the consumer business, where weaker demand dragged on results despite some pressures being temporary
** RBC ("underperform," PT: $136) said a Q4 operating miss and largely in‑line 2026 guidance were overshadowed by persistent weakness in consumer segment, which remained the biggest drag on sentiment despite margin gains
** BofA Global Research ("buy," PO: $200) says 3M's growth outlook is improving, with Safety & Industrial gaining momentum and strategy changes expanding opportunities in Transportation & Electronics, and cost cuts and operational improvements remain on track and could lift margins in 2026 as macro conditions improve
(Reporting by Rashika Singh in Bengaluru)
((rashika.singh@thomsonreuters.com))
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