Nov. 22, 2022 2:09 AM ET
By Bela Lakos
Summary
While 3M has lost about 29% of its market value year-to-date, we still believe that the company's stock is overvalued.
The macroeconomic headwinds, the potential costs related to legal claims and the latest news about the firm potentially becoming an activist target may not be fully priced in yet.
We reiterate our "sell" rating.
The 3M Company (NYSE:MMM) operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer.
The aim of our writing today is to determine what the fair value of 3M's stock could be, with a particular focus on their dividends and dividend growth.
We have published two articles on Seeking Alpha this year, rating the company's stock as a "sell" both times.
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https://seekingalpha.com/article/4559719-3m-company-stock-still-overvalued