3M's New CEO Sparks Confidence, But Operational Shakeup and Liabilities Pose Challenges, Says Analyst
3M's New CEO Sparks Confidence, But Operational Shakeup and Liabilities Pose Challenges, Says Analyst
RBC Capital Markets analyst Deane Dray reiterated an Underperform rating on the shares of 3M Co (NYSE:MMM) and raised the price target from $93.00 to $95.00.
RBC Capital Markets的分析师Deane Dray重申了对300万股票（纽交所:MMM）的卖出评级，并将目标价从93.00美元升至95.00美元。
According to the analyst, investors did not seem to mind that 3M beat consensus EPS by 25 cents but only boosted 2024 guidance by 10 cents.
根据分析师的说法，投资者似乎并不在乎300万超过预估每股收益25美分，但仅将2024年的指引提高了10美分。
But what was noticed was that the new CEO Bill Brown delivered an impressive recitation of all the failings at the once-revered 3M.
但是，人们注意到的是，新任CEO Bill Brown娓娓道来了曾经备受尊崇的300万的所有缺陷，这令人印象深刻。
While the analyst acknowledges that Brown's comments sparked confidence in the turnaround story, but 3M still has the overhang of multi-billion dollar remaining/ unaddressed PFAS liabilities.
尽管分析师承认Brown的评论引发了对扭亏为盈故事的信心，但300万仍然面临着多亿美元的未解决PFAS负债的负担。
Also, while 3M has some new positive momentum with the leadership change, the analyst still believes the ultimate cost of PFAS liabilities remain a sizable risk to cash flow and implied valuation.
此外，尽管300万的领导层变动给它带来了新的积极动力，但分析师仍认为PFAS负债的最终成本仍是现金流和隐含估值的重大风险。
Related: 3M To Focus On Operations, Innovation To Revive Growth, Says New CEO
相关：300万将专注于运营、创新以振兴成长，新CEO称。
Such a sweeping operational shakeup could prove highly disruptive, opines the analyst.
分析师认为，这样的全面业务重组可能会带来巨大的干扰。
The analyst has raised the 2024 EPS estimate to $7.25 and the price target by $2 to $95 on a refreshed SOP.
分析师将2024年每股收益预期上调至7.25美元，并在更新的SOP上将目标价上调2美元至95美元。
In the analyst's view, 3M is still a largely insular organization and could be resistant to sweeping operational and cultural changes.
在分析师看来，300万仍然是一个在很大程度上自我封闭的组织，可能会抵制全面的运营和文化变革。
Also, BofA Securities analyst Andrew Obin maintained 3M with a Buy and raised the price target from $120 to $143.
此外，BofA Securities的分析师Andrew Obin维持对300万的买入评级，并将目标价从120美元升至143美元。
Barclays analyst Julian Mitchell maintained 3M with an Overweight and raised the price target from $120 to $145.
巴克莱银行的分析师Julian Mitchell维持对300万的超额评级，并将目标价从120美元升至145美元。
Price Action: MMM shares are trading lower by 1.87% at $124.78 at last check Monday.
股价动态：截至周一最后一次查询，300万股票的交易价格下跌了1.87%，至124.78美元。
Photo via Wikimedia Commons
照片通过Wikimedia Commons