From an actual Wall Street “research” report this morning—and, before you ask, no, this is not from “The Onion”:
We are upgrading 3M to Neutral as capitulation on the growth story and 2011 estimates should limit relative downside and make 3M once again somewhat of a defensive stock. While the negative dynamic of positive sentiment has turned modestly more favorable, stubbornly bullish consensus estimates for ’12, along with risks at Healthcare, keep us from moving to Overweight. Anyone care to venture what this means?
Jeff Matthews I Am Not Making This Up
© 2011 NotMakingThisUp, LLC
The content contained in this blog represents only the opinions of Mr. Matthews. Mr. Matthews also acts as an advisor and clients advised by Mr. Matthews may hold either long or short positions in securities of various companies discussed in the blog based upon Mr. Matthews’ recommendations. This commentary in no way constitutes investment advice, and should never be relied on in making an investment decision, ever. Also, this blog is not a solicitation of business by Mr. Matthews: all inquiries will be ignored. The content herein is intended solely for the entertainment of the reader, and the author.
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