Blue-Chip Consumer Goods Sock Could See Tailwinds
3M(MMM) Schaeffers Investment Research·2024-07-12 23:06
After hitting a May 20, 52-week high, consumer goods stock 3M Co (NYSE:MMM) pulled back to its 20-day moving average and $100 century mark. Buying followed a bullish post-earnings reaction in early May, even as retail clients at major brokerages were net sellers during the month. Since then, MMM took out its 2020 low at $97 and later retested that level. Only four of 12 analysts in coverage rate the equity a "buy." This leaves plenty of room for upgrades as MMM’s technical backdrop improves, especially con ...