3M: Commercial Excellence And Productivity Initiatives Support A Compelling Turnaround

3M Company is rated Buy, supported by improving operational execution and a discounted valuation relative to multi-industrial peers. MMM's commercial excellence initiatives are driving organic sales growth, enhanced cross-selling, and improved customer retention, with Q2 2026 organic sales up 5.4% YoY. Productivity programs targeting $1 billion in cost savings by 2027 are already boosting margins, with the Q2 2026 adjusted operating margin at 24.9%, near the FY27 target.