3M Co (NYSE:MMM) will report second-quarter earnings on Friday, July 25. Wall Street expects $1.68 in EPS and $5.9 billion in revenues as the company reports before market hours.
The stock is up 19.01% over the past year, 13.52% year-to-date.
Let's look at what the charts indicate for 3M stock, and how the stock currently maps against Wall Street estimates.
3M Stock Bullish Ahead Of Q2 Earnings
3M is currently in a moderately bullish trend, but recent selling pressure introduces risk of potential bearish movement.
The stock price of $103.25 is above the 50-day SMA of $101.60 and the 200-day SMA of $88.50, which are bullish signals.
However, it is slightly below the 8-day SMA of $103.95, indicating some bearish pressure. The 20-day SMA at $102.66 also supports a bullish stance.
The MACD at 0.97 and the Bollinger Bands (with a range of $99.78 to $105.27) suggest a bullish outlook, though the RSI at 53.42 indicates the stock may be heading towards overbought conditions.
Investors should be aware of the mixed signals and monitor for potential shifts in trend.
3M Analysts Bullish, See 14% Upside
Ratings & Consensus Estimates: The consensus analyst rating on 3M stock stands at a Neutral currently with a price target of $122.19. The latest analyst ratings from Barclays, Wells Fargo, and Wolfe Research imply a 13.89% upside for 3M with an average price target of $118.33.
MMM Price Action: 3M stock was trading at $103.90 at the time of publication.