3M (MMM, $169.18) stock gets downgraded by RBC Capital Markets to sector perform from outperform
3M Co. shares got a rating downgrade by RBC Capital Markets.
RBC Capital Markets analyst Deane Dray lowered his rating on 3M to sector perform, from a prior rating of outperform. He also slashed his price target on the stock by 15% to $176 per share.
According to Dray, 3M’s reputation of a "defensive, high-quality industrial" is getting eroded.
3M's first quarter earnings had declined -10.8% year-over-year, and its total revenue had fallen -5%. The company had lowered its full-year earnings outlook to a range of $9.25 to $9.75 per share, down from a prior forecast of $10.45 to $10.90 per share. It had also cut its organic sales growth forecast to a range of -1% to +2% from a previous projection of 1% to 4%.
Momentum Indicator for MMM turns positive, indicating new upward trend
MMM saw its Momentum Indicator move above the 0 level on March 18, 2025. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 87 similar instances where the indicator turned positive. In of the 87 cases, the stock moved higher in the following days. The odds of a move higher are at .
Technical Analysis (Indicators)
Bullish Trend Analysis
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where MMM advanced for three days, in of 310 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The 10-day RSI Indicator for MMM moved out of overbought territory on March 03, 2025. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 35 similar instances where the indicator moved out of overbought territory. In of the 35 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 58 cases where MMM's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for MMM turned negative on March 27, 2025. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 48 similar instances when the indicator turned negative. In of the 48 cases the stock turned lower in the days that followed. This puts the odds of success at .
MMM moved below its 50-day moving average on March 27, 2025 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where MMM declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
MMM broke above its upper Bollinger Band on February 28, 2025. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
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