Seeking Alpha published a Hold rating on 3M Company (NYSE: MMM) on June 21, 2026, citing an operational turnaround that supports EPS recovery but flagging limited direct AI revenue contribution and ongoing legal liabilities as material risks, per Seeking Alpha. The Seeking Alpha analysis reports MMM trading at 18.6x forward P/E, which the author characterizes as expensive relative to projected growth. The piece comes roughly six weeks after 3M joined the Expanded Beam Optical (EBO) multi-source agreement alongside AMD, Cisco, Meta, and Oracle in May 2026 — a coalition targeting standardized optical connectivity for AI data centers, per a 3M press release. Seeking Alpha’s Hold thesis reflects one analyst’s view that existing AI exposure and legal overhangs do not yet justify a higher multiple.