3 Reasons to Buy 3M Before the End of 2022
To say shares of 3M (NYSE: MMM) have been a disappointment of late is a considerable understatement. The stock's been a downright lousy performer for far too long, currently down more than 50% since its early 2018 peak. Nearly every facet of its operation seems to be struggling these days.
Many of its challenges, however, are finally easing as we move into 2023. This shift could readily prompt a long-awaited rebound for the company, as well as for the stock. Here's a closer look at the three biggest things now working in 3M's favor as we prepare to turn the calendar.
Investors keeping tabs on 3M will likely remember the organization lowered its full-year revenue and earnings guidance in late October. Namely, its previous expectation for 2022 sales growth between 1.5% and 3.5% was dialed back to a range of 1.5% to 2%, and the company is now calling for 2022 per-share earnings of $10.10 to $10.35 versus its prior guidance of $10.30 to $10.80. Its free-cash-flow-margin rate is also apt to come in lower than initial expectations.
Source Fool.com
