Click to Enlarge3M (NYSE:MMM) has performed exceptionally well in most conditions over the past 20 years. Take out the financial crisis, when almost all stocks fell, and you can see there has been very steady growth in capital appreciation. As I mentioned in an article last week, steady, stodgy names like Johnson & Johnson (NYSE:JNJ) and P&G (NYSE:PG) are actually the ones leading the market, along with biotech names in the NASDAQ like Biogen Idec (NASDAQ:BIIB) and Amgen (NASDAQ:AMGN).
And true to form, this big industrial maker of everything from Post-It Notes to insulation and chemicals, has been trending steadily upward all year.
Recommendation: Buy to open MMM Apr. $100 calls for a $9 target.
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