3M Co

MMM: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$816.00	Ynlmw	Nsvmbmb

Lackluster Operations and Legal Overhang Create Market Opportunity for 3M

Joshua Aguilar

Feb 12, 2024

Business Strategy and Outlook

Estimating 3M's legal liabilities is a highly uncertain exercise. While some believe these total liabilities are greater than the firm's market capitalization, we think its 2023 settlements greatly reduce 3M's risks and is the right move for shareholders. However, we remain concerned over 3M's ability to absorb additional PFAS-related liabilities.

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