3M (NYSE:MMM) Transportation & Electronics Revenues rose from $8.3 billion in 2020 to $9.2 billion in 2021. Trefis expects the metric to grow to about $9.4 billion in 2022 and to $9.6 billion by 2023.
We expect growth to be driven by higher sales of display materials, automotive and aerospace-related products, advanced materials, and products related to transportation safety.
We think 3M stock is slightly undervalued at current levels. We value the stock at about $185 per share, about 10% ahead of the current market price.
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|S&P 500 Return||2%||-4%||105%|
|Trefis MS Portfolio Return||1%||-9%||260%|
 Month-to-date and year-to-date as of 2/3/2022
 Cumulative total returns since the end of 2016