Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, September 9, 2022

Article Excerpt

3M COMPANY, $123.10, 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. Investors tap its main brands, including Post-it notes, Scotch tape, Scotch-Brite cleaning products, Scotchguard protection and Thinsulate insulation. The company has completed the merger of its Food Safety business with Neogen Corp. (Nasdaq symbol NEOG). 3M investors now hold 50.1% of the combined firm, with Neogen shareholders owning 49.9%. The merged company is a leading supplier of equipment that foodmakers use to detect pathogens and other harmful substances in their products. Participating shareholders received 6.7713 shares of Neogen shares for every 3M share they tendered. Those investors are not liable for capital gains taxes until they sell their Neogen shares. Neogen is riskier than 3M and does not pay a dividend, but it should benefit from rising demand for food safety products and services. It expects global demand will increase between 6% and…