The challenging macroeconomic environment, including larger than expected FX headwinds, keeps negatively impacting 3M's financial performance.
The full year guidance for 2022 has been downward revised, significantly.
While 3M has outlined a strategy to settle the legal claims related to the earplugs, the recent developments do not seem to be advantageous for the firm.
We reiterate our "sell" rating.
https://seekingalpha.com/article/4543859-further-downside-ahead-for-3m