From Nasdaq:

The stock market in 2024 is a mixed bag, with some top performers faltering while others, like Nvidia, thrive. The Fed plans multiple rate cuts amidst high inflation. Investors are seeking stability in the AI-driven market and turn to Dividend King 3M Company for value and consistency.

3M Company, valued at $59.61 billion, operates globally across four key segments. As a Dividend King, it has raised dividends for 65 consecutive years and currently offers a 5.6% yield. The stock looks undervalued compared to historical metrics, making it an attractive option for income stability and potential growth.

3M recently reported Q4 earnings, beating EPS expectations but missing full-year forecasts. The appointment of a new CEO and plans to spin off the healthcare business into a new entity signal strategic changes for the company. Legal settlements and improved profit outlooks create upside potential for 3M’s stock.

Barclays upgrades 3M stock to “Overweight” with a price target of $126, implying 18% upside from the current level. While some Wall Street analysts remain cautious, 3M’s wide-ranging portfolio, attractive valuation, and strategic shifts make it a compelling option for investors seeking steady income and growth potential.



Read more at Nasdaq: This Undervalued Dividend King Could Have 18% Upside Potential