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
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. 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的分析師Deane Dray重申了對300萬股票（紐交所:MMM）的賣出評級，並將目標價從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.
根據分析師的說法，投資者似乎並不在乎300萬超過預估每股收益25美分，但僅將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，人們注意到的是，新任CEO Bill Brown娓娓道來了曾經備受尊崇的300萬的所有缺陷，這令人印象深刻。
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.
儘管分析師承認Brown的評論引發了對扭虧爲盈故事的信心，但300萬仍然面臨着多億美元的未解決PFAS負債的負擔。
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，儘管300萬的領導層變動給它帶來了新的積極動力，但分析師仍認爲PFAS負債的最終成本仍是現金流和隱含估值的重大風險。
Related: 3M To Focus On Operations, Innovation To Revive Growth, Says New CEO
相關：300萬將專注於運營、創新以振興成長，新CEO稱。
Such a sweeping operational shakeup could prove highly disruptive, opines the analyst.
分析師認爲，這樣的全面業務重組可能會帶來巨大的干擾。
The analyst has raised the 2024 EPS estimate to $7.25 and the price target by $2 to $95 on a refreshed SOP.
分析師將2024年每股收益預期上調至7.25美元，並在更新的SOP上將目標價上調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.
在分析師看來，300萬仍然是一個在很大程度上自我封閉的組織，可能會抵制全面的運營和文化變革。
Also, BofA Securities analyst Andrew Obin maintained 3M with a Buy and raised the price target from $120 to $143.
此外，BofA Securities的分析師Andrew Obin維持對300萬的買入評級，並將目標價從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.
巴克萊銀行的分析師Julian Mitchell維持對300萬的超額評級，並將目標價從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.
股價動態：截至週一最後一次查詢，300萬股票的交易價格下跌了1.87%，至124.78美元。
Photo via Wikimedia Commons
照片通過Wikimedia Commons