In his appearance on CNBC’s Squawk on the Street on Tuesday, Jim Cramer briefly discussed industrial conglomerate 3M Company (NYSE:MMM). Cramer discussed the firm’s turnaround efforts, which were demonstrated through its second quarter earnings release on Tuesday morning. The results saw 3M Company (NYSE:MMM) post $6.50 billion in revenue and $2.40 in profit-per-share to beat analyst estimates of $6.41 billion and $2.25. Crucially, the firm also raised its full-year profit-per-share forecast to $8.80 and $8.95 from the earlier forecast of $8.50 to $8.70. During the quarter, 3M Company (NYSE:MMM)’s data center segment also benefited from AI-led tailwinds and posted 6% revenue growth to offset weakness in other sectors. Cramer’s remarks were concise yet praiseful, particularly when we see the share price performance since the earnings report:
“Look at 3M, I mean that’s the easy money. Because Bill Brown has been turning that company around, turning it around. And then there was the inflection.”
Since the earnings release on Monday morning, 3M Company (NYSE:MMM)’s shares are up by 6.6%. During this period, several analysts have also discussed the firm. After the earnings report, several analysts discussed the firm. These included Goldman Sachs and RBC Capital. Goldman raised 3M Company (NYSE:MMM)’s share price target to $202 from $190 and kept a buy rating on the shares. As part of its coverage, the bank discussed the firm’s second quarter operating income. 3M Company (NYSE:MMM) had posted $1 billion in operating income, and Goldman remarked that this figure had beaten expectations due to a 5.4% organic growth. UBS raised the price target to $218 from $190 and kept a Buy rating on the shares. Like Cramer, it hinted at an inflection for 3M Company (NYSE:MMM) and remarked that the firm appeared to be entering a growth phase.
Shifting towards hedge funds, sentiment in 3M Company (NYSE:MMM) has been relatively static. According to Insider Monkey’s data, 62 out of 1,041 hedge funds held the stock in Q4 2025. In Q1 2026, 63 out of 1,022 funds held 3M Company (NYSE:MMM)’s stock. In Q1, D. E. Shaw held the largest stake, which was worth $768 million, while several others, such as Two Sigma Advisors and Marshall Wace LLP significantly grew their stakes.
While we acknowledge the potential of MMM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MMM and that has 100x upside potential, check out our report about the cheapest AI stock.
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