Forecast Of The Day: 3M Safety & Industrial Revenues
What?
Trefis expects 3M’s (NYSE:MMM) Safety & Industrial Revenues to grow from around $11 billion in 2020 to over $12 billion in 2021 and $12.5 billion in 2022.
Why?
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The economic recovery following Covid-19 should result in higher demand for 3M’s industrial products.
So What?
3M stock has been a relative underperformer, rising by just about 25% over the last 12 months, compared to a return of 35% on the S&P 500. This is partly due to investor concerns over lawsuits surrounding environmental issues related to the company’s manufacturing plants. While revenue growth is likely to pick up in 2021, we think the stock looks fully priced at current levels of around $195 per share.
See Our Complete Analysis For 3M
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