3M (NYSE: MMM) attracts a lot of interest from investors, and it's not hard to see why. Trading on around 12.3 times estimated 2022 earnings, a 4.7% dividend, and bundles of cash flow, the stock passes many value investors' filters.

There's a strong case to be made for buying the stock, but there are also some negatives. So let's look at what the company needs to do next year before its stock becomes a buy. 

Understanding where a company has come from is an excellent way to start appreciating what needs to happen next. So let's focus on its operational performance rather than the well-documented legal issues around the stock. 

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Source Fool.com