Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, June 9, 2023

Article Excerpt

3M COMPANY, $99.89, New York symbol MMM, remains a buy for long-term gains. The company makes over 60,000 consumer and industrial goods, including air purifiers, adhesives, bandages and components for medical devices. Its main brands include Post-it notes, Scotch tape, Scotch-Brite cleaning products, Scotchguard protection and Thinsulate insulation. The stock moved up this week on reports that 3M has agreed to settle lawsuits related to the release of polyfluoroalkyl substances (PFAS) from its operations in several U.S. cities. PFAS chemicals resist heat, oil, stains and water and are used in a number of products. The U.S. Center for Disease Control recognizes that exposure to high levels of PFAS may impact the immune system. 3M plans to stop producing PFAS in 2025. The reported settlement amount of $10 billion is much less than earlier predictions of up to $140 billion. To put those figures in context, 3M’s market cap (the total value of all outstanding shares) is $55.1 billion. While 3M still faces other lawsuits,…