Street View: 3M gets Amazon handshake and taste of AI trade
BUZZ-Street View: 3M gets Amazon handshake and taste of AI trade ** Industrial conglomerate 3M MMM.N lifted its 2026 profit forecast on Tuesday, a day after its expanded data-center partnership with Amazon AMZN.O signaled a growing focus on AI-linked offerings.
** 21 analysts rate the stock "buy" on average; median PT $190- data compiled by LSEG
HITCHING A RIDE ON AI TRAIN
** J.P. Morgan ("overweight," PT: $191) says 3M expanded its commercial relationship with Amazon on some data center-related components, but investors do not view co as "in the AI camp" because of the announcement, "and nor should it be"
** Morgan Stanley ("equal weight," PT: $189) expects the Expanded Beam Optical manufacturing announcement and Amazon partnership to be received positively, but sees the quarter drawing a weaker investor response despite strong margins
** RBC Capital Markets ("underperform," PT: $135) says the Amazon agreement could significantly expand 3M's data center revenue opportunity, as the deal points to spending that could exceed the company's current data center revenue across all customers
** Morningstar (Fair Value: $125) says new initiatives, including 3M's expanded relationship with Amazon.com, strengthen its competitive moat and provide commercial validation for its optical connectivity technology
(Reporting by Akriti Shah in Bengaluru)
((akriti.shah@thomsonreuters.com ; X, formerly Twitter: @AkritiShahh))