3M (MMM) reported a good fourth quarter, with revenues up 5.8%, or 5.5% on an organic basis.

This was much better the expected 3.5% increase. Earnings per share (EPS) of $2.38 vs. $2.15, was $0.23 better than expectations. Sales and operating income were higher across all segments of the company.

The company gave guidance for organic sales growth of 3% to 6% in 2021, following a 1% decline this year. The company also predicted EPS of $9.20 to $9.70 in 2021 versus $9.25 last year. However, this seems very conservative, given the company’s current momentum.

3M remains a buy under $164. My target is $180. Better clarity on the company’s potential environmental liability problem could lead to an even higher target price.