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正在將資金投入科技領域以外的其他市場，他預計資金將流入市場的其他領域。他已經找到了一家工業股票，他說這家公司看起來比過去25年中的任何時候都更有吸引力。
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'週二報道中，Brown宣佈他買了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說:'當我看到這樣的技術配置時，我感到非常興奮。這是我在過去25年中因我的第7類證書而感到最興奮的一次。'
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.
近年來，3M公司的股價一直處於下跌趨勢，但股票自今年年初以來已經開始表現出上漲跡象。
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公司於3月宣佈了Bill Brown擔任新CEO，導致股票飆升。Brown表示，Brown曾是L3Harris Technologies Inc(NYSE:LHX)的董事長兼CEO，在那裏創造了巨大的價值。他補充說，5月公司宣佈將其醫療保健業務剝離並削減股息後，股票再次飆升。
"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說:'這通常是工業公司連續五年下跌的一種上漲催化劑，這在這裏是事實。'
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告訴CNBC，他購買了該股票，希望股價會突破向上的技術壓力位。如果股票可以突破$105至$108的區間，它將轉換以前的阻力位爲支撐位，建立新的上漲趨勢。
"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說:'我正在爲突破做準備，但我真的很喜歡這種情況。前瞻市盈率爲13倍，所有人都討厭它，這隻股票永遠沒有任何變化，它處於正確的板塊，有偉大的CEO到來，很好的財務基礎。我認爲他們將找到轉機。'
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發表評論後也發表了看法。她指出，新的3M公司CEO在2011年至2020年間擔任L3Harris的職務，他的總股東回報率爲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說:'他將在自由現金流、重點、有機增長(特別是利潤率方面)上進行變革。他是一個超級巨星。'
MMM Price Action: 3M shares closed 0.93% lower at $102.05 on Tuesday, according to Benzinga Pro.
根據Benzinga Pro的數據，週二3M公司的股價下跌0.93%，收於102.05美元。
Photo: Shutterstock.
照片：shutterstock。