3M Company (MMM)

12 Mar 2021

3M reported better-thanexpected sales and earnings, the top line increased 4.5% (ahead of our 2.7% estimate), but costs pulled the bottom line down 10.6% from the previous-year tally. The stock continues to trade at a discount to multiyear highs and offers worthwhile risk-adjusted 3- to 5-year total return potential at this juncture.