3M Company (MMM) - Bull Of The Day

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3M Company (MMM) - Bull Of The Day

By Zacks Investment Research on August 10, 2009 | More Posts By Zacks Investment Research | Author's Website

We are initiating coverage on 3M Company (MMM) with an Outperform rating and $80 target price. The company’s second-quarter results benefited from the recovery in short development cycle businesses such as consumer electronics.

The company is aggressively managing its cost structure with a gradual improvement in gross margin. Meaningful uptake has yet to be seen from most major demand industries like automotive, manufacturing, general industrial and housing.

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