Josh Brown Sees A Breakout Brewing In 3M Stock: Why He's The 'Most Excited' He's Been In 25 Years
Portfolio Pulse from Adam Eckert
Josh Brown of Ritholtz Wealth Management is highly optimistic about 3M Company (NYSE: MMM), citing a promising technical setup and recent positive developments, including a new CEO and a healthcare business spin-off. He anticipates a breakout if the stock surpasses the $105 to $108 range. Stephanie Link of Hightower Advisors also supports this view, highlighting the new CEO's successful track record at L3Harris Technologies Inc (NYSE: LHX).
June 25, 2024 | 8:59 pm
News sentiment analysis
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NEUTRAL IMPACT
The new CEO of 3M, Bill Brown, has a successful track record at L3Harris Technologies, where he delivered total shareholder returns of 731% from 2011 to 2020.
While the news primarily focuses on 3M, the mention of Bill Brown's successful tenure at L3Harris Technologies highlights his capability, which could indirectly reflect positively on LHX.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Josh Brown is highly optimistic about 3M, citing a promising technical setup and recent positive developments, including a new CEO and a healthcare business spin-off. He anticipates a breakout if the stock surpasses the $105 to $108 range.
Josh Brown's optimism is based on a technical setup and recent positive changes, including a new CEO and a healthcare business spin-off. If the stock surpasses the $105 to $108 range, it could establish a new uptrend.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100