Behind 3M's Shockingly Good Quarter
3M Co. (NYSE: MMM) isn't known as a growth company but it has spent the last few years investing in projects it hoped would pay off with greater sales in the long term. OLED technology, brightness-enhancing films for smartphones, and graphics products are just a few of the company's key products, and based on its third-quarter results, these investments appear to be paying off.
Not only did 3M grow revenue and earnings at 6% and 8.4% respectively, it was organic growth that drove the results, not currency fluctuations or acquisitions. If the trend continues, the stock could be a great long-term investment.
Smartphones and other electronics are becoming a big part of 3M's business. Image source: Getty Images.
Source: Fool.com
3M Company Stock
€116.82
-0.410%
Currently there is a rather positive sentiment for 3M Company with 12 Buy predictions and 9 Sell predictions.
On the other hand, the target price of 110 € is below the current price of 116.82 € for 3M Company, so the potential is actually -5.84%.
