Moved to sell equivalent - Target 166. This would imply deeper cuts coming. Read report to see analyst reasoning.
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it is dropping like a stone
Looks like in decline phase with the multiple lingering lawsuits
Broke the 166 level and next support 150
3M share price is in a crisis. Despite delivering a "great" year 2021, its share price is moving in a wrong direction. Great leadership
Look at 5 year chart - double head and shoulders.
Technical support at 166 so good call 165.
share price likely to drop below $165. there is a reason why they announce the layoff of TTS and R&D to sound out warning shots
Will it stay above $180 after Jan earnings call?
Yes price growth alone wont improve EPS
The analyst believes 3M is entering 2022 with a litany of operating and legal challenges, especially PFAS, which is likely to result in this high-quality Prime further underperforming.
Dray further adds that ongoing inflation and supply chain pressures have exposed fundamental weaknesses in the company's price/cost actions that are unlikely to be remedied soon.
this is from a previous post in november so some very well informed ops on this site,,#
nobody wants it,, and how can Roman take his big payoff when the company is on a slide for the next 12-18 months, watch out for the share price going down 10-15 usd in the second week of november,, it might not bounce back ever,, the new norm will be $145 from february onwards,, the big crash could happen in November next year