Barrons
20 Oct 2026, 11:36 UTC · 1h ago
3M Is an AI Data Center Play Now. An Expanded Deal With Amazon Boosts the Stock.
Impact · against what's priced in
The Q3 earnings beat for 3M is a marginal positive but does not fundamentally shift the valuation thesis. While the EPS surprise suggests operational efficiency, the flat revenue performance reinforces that the market is still waiting for a structural catalyst for revenue acceleration.
- MMM+0.10
Challenges what's priced in
- The price assumes
The bull case for a dramatic, sustained revenue acceleration to a 23% CAGR
The EPS beat of $2.50 against $2.38 expectations supports the thesis of margin expansion and cost-saving, but sales of $6.6 billion meeting expectations confirms that the revenue acceleration the market is currently refusing to pay for has not yet materialized.
What MMM's price assumes · Aug 26
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