3M Co

MMM: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$88.00	Gfgbgz	Mqprdlsnp

Weak Consumer Demand and Mixed Industrial Data Still Material Headwinds for 3M

Joshua Aguilar

Oct 25, 2023

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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