Marc Chaikin's Buy The Dip Stock Pick Just Made A Golden Cross
Portfolio Pulse from Surbhi Jain
Marc Chaikin, founder and CEO of Chaikin Analytics, recommends buying 3M Co (NYSE:MMM) stock, citing its potential for upside despite a more than 10% decline in 2023 due to business-specific headwinds and legal disputes. Chaikin highlights 3M's history of innovation, like the Post-It-Note, and notes a recent Golden Cross on the technical charts, which could signal a bullish trend. 3M is addressing litigation risks, improving operational efficiencies, and leveraging strong free cash flow, which may lead to recovery and dividend growth. The stock also has an attractive valuation with a low P/E ratio compared to the sector median and a high dividend yield.
January 11, 2024 | 2:14 pm
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Marc Chaikin recommends buying 3M Co stock due to its upside potential, innovation capabilities, recent Golden Cross technical signal, and attractive valuation with a high dividend yield.
The positive outlook from Marc Chaikin, a respected investor, combined with the technical Golden Cross and the company's efforts to resolve legal issues, could lead to increased investor confidence and a potential short-term rise in 3M's stock price. The attractive valuation and high dividend yield further support the potential for stock appreciation.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100