Josh Brown Sees A Breakout Brewing In 3M Stock: Why He's The 'Most Excited' He's Been In 25 Years
Josh Brown Sees A Breakout Brewing In 3M Stock: Why He's The 'Most Excited' He's Been In 25 Years
Ritholtz Wealth Management's Josh Brown is putting money to work outside of tech as he anticipates money rolling into other areas of the market. He's identified an industrials stock that he says looks more attractive than it has at any point over the last 25 years.
Ritholtz Wealth Management的Josh Brown正在将资金投入科技领域以外的其他市场，他预计资金将流入市场的其他领域。他已经找到了一家工业股票，他说这家公司看起来比过去25年中的任何时候都更有吸引力。
What To Know: Tuesday on CNBC's "Fast Money Halftime Report," Brown announced that he bought shares of 3M Company (NYSE:MMM).
CNBC的'Fast Money Halftime Report'周二报道中，Brown宣布他买了3M公司的股票(NYSE:MMM)。
"When I see a technical setup like this, I get excited ... this is the most excited I've been about 3M in the 25 years since I passed my Series 7, " Brown said.
Brown说:'当我看到这样的技术配置时，我感到非常兴奋。这是我在过去25年中因我的第7类证书而感到最兴奋的一次。'
3M shares have been in a downtrend in recent years, but the stock has started to show signs of life with two significant moves higher since the start of the year.
近年来，3M公司的股价一直处于下跌趋势，但股票自今年年初以来已经开始表现出上涨迹象。
In March, 3M announced Bill Brown as it's new CEO, which caused the stock to spike. Brown is the former chairman and CEO of L3Harris Technologies Inc (NYSE:LHX), where he created enormous value, Brown said. In May, the stock spiked again when the company announced a spin-off of its healthcare business and cut its dividend, he added.
3M公司于3月宣布了Bill Brown担任新CEO，导致股票飙升。Brown表示，Brown曾是L3Harris Technologies Inc(NYSE:LHX)的董事长兼CEO，在那里创造了巨大的价值。他补充说，5月公司宣布将其医疗保健业务剥离并削减股息后，股票再次飙升。
"Which is something that typically serves as, believe it or not, an upside catalyst when you have an industrial company that's been in a freefall for five years, which is the case here," Brown said.
Brown说:'这通常是工业公司连续五年下跌的一种上涨催化剂，这在这里是事实。'
Brown told CNBC that he bought the stock in anticipation of a technical breakout to the upside. If the stock can get above the $105 to $108 range, it looks ready to turn previous resistance into support and establish a new uptrend, he said.
Brown告诉CNBC，他购买了该股票，希望股价会突破向上的技术压力位。如果股票可以突破$105至$108的区间，它将转换以前的阻力位为支撑位，建立新的上涨趋势。
"I'm front-running the breakout, but I really like this setup here. It's 13 times forward earnings, everyone hates it, the stock has done nothing forever, it's in the right sector, great CEO coming in, the decks have been cleared. I think they're going to figure out the turnaround," Brown said.
Brown说:'我正在为突破做准备，但我真的很喜欢这种情况。前瞻市盈率为13倍，所有人都讨厌它，这只股票永远没有任何变化，它处于正确的板块，有伟大的CEO到来，很好的财务基础。我认为他们将找到转机。'
Hightower Advisors' Stephanie Link, who has a position in 3M, chimed in following Brown's comments. She noted that when the new 3M CEO was at L3Harris from 2011 to 2020, he delivered total shareholder returns of 731%.
Hightower Advisors的Stephanie Link在Brown发表评论后也发表了看法。她指出，新的3M公司CEO在2011年至2020年间担任L3Harris的职务，他的总股东回报率为731%。
"He's going to make changes in terms of free cash flow, focus, organic growth, especially on margins ... he's a rockstar," Link said.
Link说:'他将在自由现金流、重点、有机增长(特别是利润率方面)上进行变革。他是一个超级巨星。'
MMM Price Action: 3M shares closed 0.93% lower at $102.05 on Tuesday, according to Benzinga Pro.
根据Benzinga Pro的数据，周二3M公司的股价下跌0.93%，收于102.05美元。
Photo: Shutterstock.
照片：shutterstock。