3M Priced For Perfection: ‘We Don’t See How the Stock Outperforms’

RBC’s Deane Dray and team like 3M (MMM) as a company but think its stock is “priced for perfection despite [a] less favorable mix.” They continue: Agence France-Presse/Getty Images While 3M is a long-time PM favorite for its high quality of earnings, the business is more cyclical than many investors perceive. With 3/4 mix from short-cycle sales and 30% [...]