3M Listed as ‘buy’ After Six Sigma Initiative
After a bit of turmoil surrounding the exit of their CEO, analysts are holding strong on their ‘buy’ rating for 3M. Analysts cite as one of the main reasons for this confidence in the company, its 2Q05 earnings which provide margins ahead of estimates. Furthermore, the company has cut costs significantly due to its incorporation of Six Sigma initiatives, a process vowed to be continued under the company’s new leadership. As the company’s sales continue to rebound, the cost savings the firm has achieved through tis remarkably profound incorporation of the Six Sigma and Lean efficiency programs has yielded increasingly vital cost savings. newratings.com reports:
Analysts at UBS maintain their “buy” rating on 3M (MMM.NYS). The target price is set to $96.