Citigroup raises 3M (MMM.US) price target to $188, new businesses such as data centers support long-term growth.

Zhitong Finance APP has learned that Citi, in its latest research report, raised its price target on 3M (MMM.US) from $183 to $188 while maintaining a "Neutral" rating. Based on the October 20 closing price of $171.37, this implies a stock price return of approximately 9.7%, which, combined with an expected dividend yield of 1.8%, results in an expected total return of approximately 11.5%. Citi believes that 3M's third-quarter results and management's confidence in the preliminary 2027 targets reinforce its view that the company's commercial execution and internal self-improvement initiatives continue to make progress, which is expected to support sustained earnings per share growth.