Find the latest 3M Company MMM analyst stock forecast, price target, and recommendation trends with in-depth analysis from research reports.
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The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.
This pick list highlights constituents of the Morningstar US Large Cap Index that we believe offer investors the best risk-adjusted return prospects. Stocks of large-cap companies where neither growth nor value characteristics predominate. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap.
As of this writing, a massive week for tech stocks and the overall market is underway, with earnings reports from GOOGL, MSFT, META, AMZN, TXN, KLAC, NOW, SPOT, KO, PEP, MCD, WHR, UPS, MRK, CAT, CMG, BA,V, MA, FSLR, XOM, and GE. It likely will be the largest market-cap week of the EPS season.
Monday Tee Up: Heavy on Earnings, Light on the Economy
Stocks Rally in October, but Fed, Elections Threaten Gains
In this edition, Food Service Firms Make Strong Recovery, a New Dawn For Solar Manufacturing, 3M Shareholders and Neogen Stock, and Intron, Starbucks, and Veeva
Monday Tee-Up: No Summer Doldrums on Wall Street
Market Slumps as Earnings Roll On
This edition features Kogan shares at a bargain, how patience could pay off with Tyler Technologies, Hoshizaki's brewing growth targets, and Ecolab, British American Tobacco, and 3M.
We recently lowered our intermediate-term technical outlook to bearish from bullish. The major indices have been cutting through important support levels. The condition of most individual stock charts is ugly, with many losing their 50-day averages and then cratering through their 200-day averages. This is definitely a change of character: absent the pandemic, it is something we have not seen since September 2018 (and 2015 and 2016 for some of the higher-beta indices). We have not had a decent-sized correction since the pandemic swoon, so we are certainly overdue.
Stocks rose strongly on Thursday as investors weighed new GDP and employment data along with 3Q earnings reports from a range of major companies. The Commerce Department said that 3Q GDP rose just 2.0%, down from 6.7% in 2Q and below the Reuters consensus of 2.7%. First-time unemployment claims fell to a new pandemic-era low of 281,000, down from 291,000 a week earlier and below the consensus forecast of 288,000. Continuing claims dropped to 2.243 million from 2.480 million a week earlier, and were also below consensus. The Dow rose 0.68%, the S&P 0.98%, and the Nasdaq 1.39%. Crude oil rose to $83 per barrel, while gold rose slightly to $1800 per ounce.
This edition features a framework for measuring human capital risk; Asia reporting; inflation and supply chain issues in upcoming earnings; and notes from Verizon, VMware, and new coverage EML Payments.
Value stocks are outperforming growth in 2021 (for the first time since 2016), though a recent rally in growth stocks has narrowed the performance advantage for value. But in an environment of historically low interest rates, many investors are still searching for high levels of income, which often can be found in value stocks. During recent years, the performance record has favored growth. Since 2010, the Russell 1000 Growth Index has climbed more than 450%, compared to an advance of 180% for the Russell 1000 Value Index. In eight of the past 10 years, growth stocks have topped value stocks. That hasn't always been the case. In the previous decade, including the Great Recession, value stocks were better performers than growth stocks, advancing an admittedly low 8%, but still better than growth, which declined 15% during the decade. Value investors trace their roots to the famous "Security Analysis" textbook, written by Ben Graham, an economics professor at Columbia University. Warren Buffett was one of his students. The tide may now be turning. Progress on COVID-19 vaccines has given a lift to some of the cyclical companies (energy companies and banks) that have lagged in recent quarters, and value stocks have kept pace with growth stocks in the past year. In any event, value is the place to achieve income. The current yield on the iShares Russell 1000 Value Index ETF is 1.6%, compared to the 0.5% current yield on the iShares Russell 1000 Growth Index ETF. This is important, as the current yield on the 10-year Treasury bond is 1.30%. For our list this week, we have screened our coverage universe for stocks that are BUY-rated by Argus Research analysts, have an Argus Financial Strength rating of at least Medium, and have a yield of 3.0% or higher. New stocks in our portfolio include the following.
Value stocks are outperforming growth in 2021 for the first time since 2016. While a recent rally in growth stocks has narrowed the performance advantage for value in the year to date, an environment of historically low interest rates is one in which many investors are still searching for high levels of income -- which often can be found in value stocks. When we look for attractive high-yield/deep-value stocks at Argus, we look for low valuations on metrics such as price/earnings, price/sales, price/book, yield, and price/cash flow. We also look for companies with clean balance sheets, high levels of profitability, high-quality earnings, and experienced management teams. We seek to avoid companies in industries that are in secular decline, or with dividend yields that are so high that the payout is clearly at risk. Based on numerous requests from clients, we have designed a portfolio of companies that are BUY-rated at Argus Research, have a Financial Strength rating of at least Medium, and have a yield of 3.0% or higher.
Stocks kept momentum going in July and August. Our analysts have been progressing through earnings season and have come across many stocks that have approached target prices. We set targets through our valuation framework, which includes analysis of historical multiples, peer multiples, and future dividends and cash flows. After adjusting for the latest information, here are some of the stocks on which we raised target prices over the past month. All of the following stocks are rated BUY at Argus.
The July 19 trading week began with somber discussions of an overdue correction, and stocks wobbled - but investors bought the dip and shares raced to new all-time highs. Although stocks suffered a drubbing on Monday of that week, with the benchmark S&P 500 down 1.6% for the session, they clawed back on Tuesday through Thursday and then staged a big-finish Friday.
The onset of the coronavirus in 2020 knocked the stock market into a bear market. Though stocks have recovered, the U.S. economy is about to slow down and COVID-19 cases are rising again as virus variants spread. Volatility, which has dropped from the highs of 2020, still has not returned to pre-COVID levels. Daily prices can swing wildly, as they did during two consecutive days in mid-July when the Dow Jones Industrial Average plummeted more than 1,000 points. Yet investors exit the stock market at their own peril, as long-term returns from equities consistently have outpaced long-term returns from other asset classes. Argus believes that Min Vol is an all-weather strategy that is timely in any investing climate and can deliver market-matching returns on an absolute basis and superior returns on a risk-adjusted basis over various time periods.
Stocks kept the momentum going in April, and are now up almost 12%, including dividends, in the year-to-date. Our analysts have been progressing through earnings season, and have come across many stocks in coverage that have approached target prices. We set target prices through our valuation framework, which includes analysis of historical multiples, peer multiples, future dividends, and cash flows. After adjusting the models for the latest earnings and dividend information -- most of which has been good -- here are some of the stocks on which we have raised target prices over the past month. All stocks are rated BUY at Argus.
The U.S. GDP growth rate accelerated in 1Q21 to an annualized 6.4%, exactly in line with our estimate. The consumer and government sectors were the key drivers of the first-quarter growth, as personal consumption expenditures rose at a 10.7% rate and government spending at a 6.3% rate, offsetting a 5% decline in gross private domestic investment and a 1.1% dip in exports. Drilling deeper, consumer spending on durable goods increased 41.4% and nondurable goods increased 14.4%. Services increased 4.6%. Spending on equipment increased at a 16.7% rate and spending on intellectual property products increased at a 10.1% rate. Residential investment increased at a 10.8% rate. On an absolute basis and despite three quarters of recovery, current GDP is still about 1% below pre-pandemic levels. The National Bureau of Economic Research has not yet declared that the recession is over. They should soon, though, as unemployment is falling and consumers are spending. We look for solid above-trend growth through 2023.
The U.S. GDP growth rate accelerated in 1Q20 to an annualized 6.4%, exactly in line with our estimate. The consumer and government sectors were the key drivers of the first-quarter growth, as personal consumption expenditures rose at a 10.7% rate and government spending at a 6.3% rate, offsetting a 5% decline in gross private domestic investment and a 1.1% dip in exports. Drilling deeper, consumer spending on durable goods increased 41.4% and nondurable goods increased 14.4%. Services increased 4.6%. Spending on equipment increased at a 16.7% rate and spending on intellectual property products increased at a 10.1% rate. Residential investment increased at a 10.8% rate. On an absolute basis and despite three quarters of recovery, current GDP is still about 1% below pre-pandemic levels. The National Bureau of Economic Research has not yet declared that the recession is over. They should soon, though, as unemployment is falling and consumers are spending. We look for solid above-trend growth through 2023.
With April winding down, you can count on someone, somewhere saying, 'sell in May and go away.' That pronouncement is mainly popular because it rhymes. While it is true that summer is typically a period of relative underperformance, market timing rarely works. And sometimes summer is a good time for stock performance.
January ended with a fizzle, as stocks recorded their worst month since October and the S&P 500 registered a loss for the month. In a month that featured the incursion at the Capitol Building and a heavily policed inauguration, few predicted that the key market driver would be a retail chain that a few hedge funds (to their misfortune) perceived to be on its last legs.
In the past few weeks, the S&P 500 has drifted down from its October closing high of 3,534 on 10/12/20, hit an end-of-day low of 3,427 on 10/19/20, and worked back up to 3,465 at the close on October 23. The market is down about 2% from that mid-October high but still up 3% for the month, coming off September's 4% decline.
Between 2/5/20 and 2/12/20, the S&P 500 traded above 3,300, before its spectacular fall to the 2,300s in the final weeks of March. On 7/22/20, the index closed at 3,276 -- the closest is has come to 3,300 since February. But stocks slid on 7/23 and 7/24 as a rising tide of new coronavirus infections and daily deaths took its toll and investors beat-up on growth leaders. NFLX, among the darling stocks, was the lone riser after Disney pushed its 2020 release slate into 2021.
The VIX, though well off its highs, remains elevated at 35.9. The stock market is still moving in big swings, as hopeful headlines on testing availability and states' reopening vie with truly terrible economic data. Daily rate of change (DRC) has also calmed, but only in comparison to March.
This edition features undervalued banks; opportunities in U.S. autos; pharma and biotech during the COVID-19 crisis; and notes from Zoom, Safran, and 3M.
Faced with one of the greatest economic challenges ever, U.S. corporations -- both inside and outside of the Healthcare sector -- are reallocating resources in an all-hands battle against COVID-19. Here are some of the companies and what they are doing.
This edition features an in-depth look at the coronavirus impact on 2020; U.S. multi-industrials; fair value cuts in the energy sector; and notes from Albemarle and new coverage Alcon and Epiroc.
3M is a multinational conglomerate that has operated since 1902 when it was known as Minnesota Mining and Manufacturing. The company is well-known for its research and development laboratory, and the firm leverages its science and technology across multiple product categories. As of 2019, 3M is organized into four business segments: safety and industrial, transportation and electronics, healthcare, and consumer. About 60% of the company’s revenue comes from outside the United States, with the safety and industrial segment constituting most of the firm’s net sales. Many of the company’s 55,000-plus products touch and concern a variety of consumers and end markets.
There's a lot of excitement on the roads and in the markets about autonomous vehicles. Battery technology advancements, The Paris Climate Agreement and the Electric Vehicle Initiative have all spurred investment into the next generation of autos and driving systems. Some companies, such as Tesla Inc. (TSLA: BUY, and up 73% YTD) and Alphabet Inc. (GOOGL: BUY), already have achieved important milestones on the road to the future. Here is a partial list of companies in Argus coverage that are also participating.
