Merrill Lynch Flips Conglomerate Coverage (GE, MMM)

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Merrill Lynch has made a key reversal call in the conglomerate sector.  It has raised General Electric (NYSE: GE) to Buy from Neutral, and it has downgraded 3M (NYSE: MMM) to Neutral from Buy.

GE shares are up about 1.5% at $36.15 in early pre-market trading, while 3M shares are down 1% at $78.66.

Jeff Immelt is doing rather well on his recent GE share purchases.

Jon C. Ogg
March 20, 2008