Stockchase Opinions

Jim Cramer - Mad Money 3M Co. MMM-N BUY Jul 15, 2024

The new CEO is doing what he must and has a good track record from L3Harris.

$102.720

Stock price when the opinion was issued

mngmnt diversified
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BUY

Just reported: beat earnings and revenues and free cash flow. Also, they guided a little higher. The CEO is focused on growing organic growth, free cash flow and operating margins, which is what happened and will do. She would still buy it.

BUY

Last Friday, the CEO walked about areas that could see cost cuts and many segments that could grow faster. MMM is part of the rally broadening out of tech.

HOLD

Long-term underperformer and base-building, recently broke out. Resistance levels started to fall, one by one. Then big pop on earnings. One of the top-ranked stocks on RSI in the US universe, acting extremely well. Quite well supported, even through the correction of last week.

WEAK BUY

Large industrial with a medical component, and she likes that. Good job getting back on track. Dividend cut earlier this year.

She focuses more on Canadian companies, so take a look at CCL.B. 

DON'T BUY

Wait. Don't enter this now. Wants to see more clarity. Shares are climbing after a long malaise and they have a new CEO. But hey have legacy problems with a chemical and a huge lawsuit, and the noise suppression technology lawsuit. These types of companies do turn around, but he'd rather pay more for more certainty.

BUY

It trades at only 17x PE in 3M, and it runs a diversified business.

BUY

It's a turnaround story, so he initiated a position. He is selective in industrials, because they trade at a 24x forward PE, higher than the S&P.

WEAK BUY

They're in the second inning of their turnaround, and shares remain cheap. Expectations remain low.

BUY

He bought it at 12x PE, now at 19x. The new CEO demonstrates they can change their business.

PARTIAL BUY

So much is about sentiment and the street expects a massive cut to earnings. We haven't seen their full-year estimates.