'Limited new news' at 3M
Earlier last week 3M Co. issued its financial guidance for 2015 saying earnings per share would be in the range of $8 to $8.30 per share and announced it would raise its dividend for 2015 by 20 percent.
J.P. Morgan analyst Stephen Tusa's quick take on 3M' s announcement was somewhat muted. He has had a "hold" rating on the stock since December 2013. He believes the company is "solid and steady" and that management continues to execute on its strategy but he didn't find enough in the analysts' presentation to lift his rating. "Our view is unchanged on what looks like limited new news," Tusa wrote.
Eight analysts have a "buy" recommendation on 3M, 12 have "holds" and two have a "sell" rating.
Negative view lifted on Minnesota Orchestra bonds
– long-term credit rating because of the continuing musician's strike there.
– rating. She raised the outlook based on the resolution of the strike and return to programming in February. "Given management's expected 2014 operating results and anticipated fiscal 2015 results pending a full concert season, we see signs of stabilization and less uncertainty than when we reviewed the rating in fall 2013," Woods wrote.
The Minnesota Orchestral Association had raised $11 million in a bond offering in 2005; those 10-year bonds are set to mature in April.
Patrick Kennedy
