3M Heads Into Q2 Earnings: Bullish Tailwind Or Bearish Detour?
Portfolio Pulse from Surbhi Jain
3M Co (NYSE:MMM) is set to report its Q2 earnings on July 25, with Wall Street expecting $1.68 EPS and $5.9 billion in revenues. The stock has shown a 19.01% increase over the past year and 13.52% year-to-date. Technical indicators present mixed signals, with the stock price above the 50-day and 200-day SMAs but slightly below the 8-day SMA. Analysts have a Neutral rating with a price target of $122.19, suggesting a 14% upside.
July 25, 2024 | 7:41 pm
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3M Co is set to report Q2 earnings on July 25, with expectations of $1.68 EPS and $5.9 billion in revenues. The stock has shown a significant increase over the past year and year-to-date. Technical indicators are mixed, with the stock price above the 50-day and 200-day SMAs but slightly below the 8-day SMA. Analysts have a Neutral rating with a price target of $122.19, suggesting a 14% upside.
The upcoming earnings report and the mixed technical indicators suggest potential volatility in the short term. However, the overall bullish trend and positive analyst ratings indicate a likely upward movement in the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100