3M's Chart Looks Rough, But Wall Street's Still Betting On A Bounce Ahead Of Q1 Earnings

3M Co. MMM will report its first-quarter earnings on Tuesday before the market opens. Wall Street expects $1.77 in EPS and $5.76 billion in revenue as the company delivers its first quarterly update of 2025.

The stock is up 38.03% over the past year but has lost steam in recent weeks – down 1.43% year to date and a sharp 14.98% over the past month.

Let’s look at what the charts indicate for MMM stock and how it currently compares to Wall Street estimates.

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3M Stock Bearish Ahead Of Q1 Earnings

3M stock’s technical backdrop heading into earnings is almost bearish. 3M stock, at $127.23, trades below its short and medium-term moving averages.

Chart created using Benzinga Pro

The eight-day, 20-day, and 50-day simple moving averages sit at $139.03, $140.20 and $128.86, respectively – all pointing to weakening momentum. The stock, however, sits above the 200-day average at $114.00, suggesting that longer-term bullish trends may still be intact.

The Moving Average Convergence Divergence (MACD) indicator is at 1.53, indicating bullish divergence and suggesting positive potential if earnings surprise. Meanwhile, the Relative Strength Index (RSI) reads 43.32, heading towards oversold territory. This may hint at a short-term bounce, but only if fundamentals offer a compelling narrative.

3M Stock Analysts See 15% Upside

Ratings & Consensus Estimates: The consensus analyst rating on MMM is a Buy, with an average price target of $138.75. The latest calls from Citigroup, Barclays, and JPMorgan place the average target even higher at $147.33, implying a 15.33% upside from current levels.

MMM Price Action: MMM stock was trading at $130.22 at the time of publication. With sentiment and technicals both deteriorating, investors will be watching closely – hoping that Tuesday's results can turn the tide and justify analysts' bullish stance.

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