Trade Idea: 3M Co
The shares of 3M Co looks fully valued trading at a forward P/E of 23 times. It is also trading at a premium to its historic multiples and at a higher than normal premium relative to its peers. We do, however, believe a premium rating should be maintained given the quality of the business, its excellent return on invested capital (ROIC), good cash generation and above-average operating margins.
Click here to download the presentation slides as a PDF.
