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3M: Pull-Back Is Buy Opportunity

Posted Jan 25th 2010 5:00PM by Joseph Lazzaro (RSS feed)
Filed under: Stocks to Buy

Institutional investors (IIs) expect better quarters ahead for 3M Co. (MMM), and that's a major reason I'm reiterating my buy rating for the company's shares, first recommended on April 20, 2009, at a price of $51.97. If you bought 3M in April 2009, you're up an impressive 58%.

In the spring 2009, I argued, among other factors, that a strong case for buying 3M shares could be made based on the company's large free cash flow, net return on capital, and reasonable P/E (then about 11), before everyone else jumped on the bandwagon.

Continue reading 3M: Pull-Back Is Buy Opportunity

3M is in an uptrend

Posted Nov 4th 2009 5:45PM by Joseph Lazzaro (RSS feed)
Filed under: 3M Corporation (MMM), Stocks to Buy

I'm reiterating my Buy rating for 3M Co. (NYSE: MMM), first recommended on April 20, 2009 at a price of $51.97. If you bought 3M in April, you're up an impressive 46%.

Way back in the spring, I argued, among other factors, that a strong case for buying 3M shares could be made based on the company's large free cash flow and net returns on capital, and reasonable P/E (then about 11), before everyone else jumped on the bandwagon.

Well, with a current P/E of about18, 3M is no where near as cheap, but I still like the shares here, around $75.

Continue reading 3M is in an uptrend