3M upgraded at Argus Research on improved outlook
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Contributor since / Followers
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- 3M (NYSE:MMM) on Tuesday was upgraded to Buy from a previous investment rating of Hold by analysts at Argus Research. They said they industrial conglomerate is improving its profit margin and cash flow.
- “The company is at last making progress with its aggressive steps to engineer earnings and stock price turnarounds,” John Eade, analyst at Argus, said in a July 30 report. “We look for growth to continue in 2025, as the company benefits from cost reductions, and are boosting our preliminary adjusted EPS estimate to $7.65 from $7.50.”
- 3M’s (MMM) shares jumped a record 23% on Friday after the company raised guidance on adjusted earnings.