3M

3M has been at the forefront of industrial innovation for over a century – but even a company with that track record isn’t immune to losing its way. Under new management and with a turnaround strategy that is clearly working, 3M is focusing on getting the basics right. The market loves it, with an immense rally in the share price. Has it gone too far, or is there room to go?

3M has a track record of 120 years of innovation. That sounds very impressive, but a share price chart over the past two decades tells a far less appealing story. This lumbering giant of a conglomerate has underperformed for years. Are there any catalysts for positive change?