FBR Capital Reiterates an 'Outperform' on 3M (MMM); Positive Takeaways from Investor Meetings
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Price: $182.65 --0%
Rating Summary:
15 Buy, 9 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
15 Buy, 9 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital reiterates an 'Outperform' on 3M (NYSE: MMM), PT $105.
FBR analyst says, "We recently had the opportunity to host investor meetings with David Meline, 3M’s new CFO, and came away with increased confidence in the company’s ability to boost organic growth rate to 7%–8%, or significantly higher than the historical average of 4%. New product introductions and emerging markets remain key drivers where 3M continues to see lots of growth opportunity beyond just the BRIC countries."
"We continue to like 3M’s gradual shift to a structurally higher growth trajectory, where the company’s initiatives in boosting R&D and new products, emerging markets, and “growthier” acquisitions should all contribute to higher growth. We also see upside from increased buybacks and see the potential for reward for patient longer-term investors."
For more ratings news on 3M click here and for the rating history of 3M click here.
Shares of 3M closed at $96.65 yesterday.
FBR analyst says, "We recently had the opportunity to host investor meetings with David Meline, 3M’s new CFO, and came away with increased confidence in the company’s ability to boost organic growth rate to 7%–8%, or significantly higher than the historical average of 4%. New product introductions and emerging markets remain key drivers where 3M continues to see lots of growth opportunity beyond just the BRIC countries."
"We continue to like 3M’s gradual shift to a structurally higher growth trajectory, where the company’s initiatives in boosting R&D and new products, emerging markets, and “growthier” acquisitions should all contribute to higher growth. We also see upside from increased buybacks and see the potential for reward for patient longer-term investors."
For more ratings news on 3M click here and for the rating history of 3M click here.
Shares of 3M closed at $96.65 yesterday.
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