3M Stock Could Extend Multi-Year Highs

Core Viewpoint - 3M Co (NYSE:MMM) stock is showing resilience amid a broad-market selloff, currently trading at $150.04, approaching its three-year high of$152.07, indicating potential for further gains [1] Group 1: Stock Performance - The stock has low implied volatility (IV) at 18%, ranking in the low 3rd percentile of its annual range, while being within 2% of its 52-week high [2] - Historically, similar signals in the past three years have led to a 100% success rate of the stock being higher one month later, with an average gain of 4.5% [2] - Year-over-year, the equity has increased by 86.9% [3] Group 2: Analyst Ratings and Price Targets - There is potential for upgrades as five out of 15 analysts still have a "hold" or worse rating on the stock [4] - The 12-month consensus price target is $153.05, which is close to the current trading levels, suggesting room for price-target hikes [4] Group 3: Technical Indicators - Strong support is indicated at the ascending 160-day moving average, which may help mitigate potential pullbacks [3]