Replies to post #4788 on The Rising Influence of Rising Affluence

[DewDiligence]

3M did a credible job explaining the relatively weak results in the prior two quarters; from #msg-70346326 (posted Dec 2011):

…the stock has underperformed lately because its businesses rely on distributors to a greater degree than most industrial multinationals, and many distributors have been paring inventory [due to the expectation of lower end-user demand]. This subject was covered in depth on 3M’s recent Investor Day webcast.

Thus, it was only a matter of time until 3M’s distributors were done paring inventory and returned to a more normal ordering pattern, which has now happened, evidently.

I consider 3M a great company and core long-term play on TGDT. I was never unduly concerned about the quarterly results even when many investors were.

[DewDiligence]

Bernstein cuts 3M price target from $102 to $101 (LOL):

http://www.reuters.com/article/2012/05/10/3m-research-bernstein-idUSL4E8GABJM20120510

The analyst also downgraded the stock from outperform to market perform, FWIW.

[DewDiligence]

3M sets 12-month high. Given this company's bellwether status among industrial stocks, that's a good sign.

[DewDiligence]

Belated 2Q12 commentary on 3M’s 2Q12 results:

http://www.bloomberg.com/news/2012-07-26/3m-quarterly-profit-rises-0-6-as-health-care-sales-increase.html

Bottom line: 3M’s guidance for 2012 EPS was upped to $6.35-6.50 (vs old range of $6.25-6.50).