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Strategies & Market Trends : Value Investing

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To: bruwin who wrote (62024)	5/20/2019 7:06:05 AM
From: Wallace Rivers	Read Replies (2) of 78667

I know MMM has been mentioned here before, it is in stock purgatory currently. It is a high quality company with its own particular issues. It is on my watch list, but not at current prices. Still sports a PE of about 20 - the additional recent event is that Stephen Tusa of JP Morgan affirms his bearish opinion and lowers his price target to $143 from $154. This guy is an "axe" on Wall Street, he's been so right on GE, telling people to avoid GE from the $30 range. He finally became less bearish on GE near its 52 week low, and it has rallied about 50% from that point. So, I wouldn't buy MMM at these levels, but would look for an upgrade by Tusa as a catalyst.

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