HSBC has upgraded 3M (MMM) to a 'Buy'. The conglomerate's shares are nearing the $100 mark due to its favourable profile, while it continues to reward shareholders with dividends and share buybacks. Observers are now closely following the trend in 3M's stock, especially after its historic dividend cut. Qsemble Capital Management LP has increased its holdings in 3M confirming its rising investment appeal. Despite a minor sales decline, the company has surpassed expected earnings in its Q1 2024 report. Looking ahead, 3M recently announced the
spin-off of its
Health Care business unit, further diversifying its business model. The company's shares demonstrated strong momentum, despite its stock falling by 15% this year. It reinforced its commitment to value creation by disclosing plans to
spin-off Solventum Unit in a tax-free scheme for shareholders. It even eyed doubling its value in five years amidst market highs and lows. 3M unveiled 'Solventum' as the name for the soon-to-be independent health care unit, following the planned spin-off. It also announced the appointment of a
new CEO which significantly boosted its stock. In spite of a 45% investor loss in the past five years, 3M is still considered a potential investment opportunity.
3m Company MMM News Analytics from Mon, 09 Oct 2023 07:00:00 GMT to Sun, 12 May 2024 18:38:00 GMT -
Rating 6
- Innovation 2
- Information 4
- Rumor -2
