3M Co. affirmed on Tuesday its full-year 2016 earnings-per-share outlook of $8.10 to $8.45, which surrounds the FactSet consensus of $8.22. At a meeting with analysts and investors Tuesday, Chief Executive Inge Thulin will also introduce five-year growth targets, including 8% to 11% for earnings per share and 2% to 5% for local-currency sales. The company, whose brands include Scotch tape and Post-it notes, expects return on invested capital to grow 20% in five years and 100% free cash flow conversion. “These objectives reflect our confidence in driving efficient growth–that is, strong, sustainable growth and premium returns–well into the future,” Inge said. The stock, which was still inactive in premarket trade, has run up 10% year to date, while the Dow Jones Industrial Average has gained 0.6%.
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