3M rises after co lifts annual profit forecast

Shares of industrial giant 3M (MMM.N) rise about 6% to $168 in premarket trading.

The manufacturer raises its full-year profit forecast on the back of cost-control measures, price hikes and continuing strength in its safety and industrial business.

It now expects fiscal 2025 adjusted profit per share of $8.80 to $8.95, up from its prior forecast of $8.50 to $8.70.

The company reports second-quarter adjusted EPS of $2.40, compared with $2.16 a year earlier.

The median price target of 19 brokerages covering the stock is $170.5, according to data compiled by LSEG.