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3M: The Hard Part Is Over, But The 'Easy' Money Is Gone

3M Company has executed a strong turnaround, but shares now trade near fair value, limiting further upside. 3M's 2026 guidance targets $5.6-$5.8B in adjusted operating cash flow, 4% sales growth, and 70-80 bps margin expansion, below the market's expectations. Litigation liabilities, including a large payment in 2027, constrain near-term financial flexibility despite robust cash reserves.

Seeking Alpha • Jan 23, 2026

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