Schaeffer's Top Stock Picks for '25

Lowered Guidance Pares Blue-Chip Stock's Gains

The company cited supply chain and inflation issues

Deputy Editor
Oct 26, 2021 at 11:30 AM
facebook X logo linkedin


3M Co (NYSE:MMM) is in the spotlight this morning, after the blue-chip name reported better-than-expected third-quarter earnings and revenue. However, the company also lowered its full-year forecast due to supply chain and inflation issues. At last glance, MMM was up 0.4% to trade at $183.15.

Today's rise has MMM inching above recent pressure at the 40-day moving average, and eyeing its first close above this trendline since August. Meanwhile, familiar support at the $175 level provided a floor for the stock's October pullback. Year-to-date, MMM is up just 4.9%. 

Analysts are exceedingly bearish on 3M stock, with 11 of the 12 in coverage carrying a tepid "hold" or worse rating. Plus, the 12-month consensus price target of $193.46 is a slim premium to the equity's current levels.

The options pits have been more pessimistic than usual as well. This is per MMM's 50-day put/call volume ratio at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits higher than 98% of readings from the last year. In other words, long puts are being picked up at a much faster-than-usual clip.

Today's options volume is running at double the intraday average. So far, 6,764 calls and 5,951 puts have crossed the tape. The weekly 10/29 187.50-strike call is by far the most popular, followed by the 177.50-strike put in the same series, with positions being bought to open at the latter. 

 

 
 

Which of These SUB-$5 Stocks Could 26x From Here? (AD)

He called a rare 11x on Tesla…

Then he called a 26x on Workhorse…

Then an even rarer 35x on Nio Inc…

Now Tim Bohen says these 5 tiny “America First” stocks are next up in 2025.

They’re trading for less than $5 right now.

But thanks to Elon & Trump’s new alliance…

They could be off to the races in Trump’s first 100 days.

And right now for a limited time…

You can get the names & tickers for just $1 here. (AD)

10 Stock Picks FREE
 
 

Featured Articles from Trusted Partners:

🚀 One Stock Pick Could Change Everything in 2025
What if one stock pick could define your success next year? Get 10 expert-vetted stocks set for 2025—plus 5 bonus picks to watch now. Get the Report →

🆕 New Options Need New Trading Strategies
Zero-DTE options are the newest (and hottest) options to trade.  Professional traders have rushed into the market and are making a mint.  Don’t get left behind - learn all about these options, how to trade them, market setups to profit from, plus much more. Download now →

👀 Revealed: 3 Defensive Stocks for Your Portfolio
Worried about the market? This free report reveals 3 under-the-radar defensive stocks for uncertain times in any kind of economy.

 

 
 

FREE Report Download

 

Follow us on X, Follow us on Twitter