CHATTANOOGA, Tenn – Interest rates may be on the rise, but investors looking for yield in the equity market may still be in luck.
Two market watchers have their eyes on a few stocks that could continue to outperform while offering a healthy dividend.
Miller Tabak’s chief market strategist, Matt Maley, likes 3M, a stock that yields 3.4%.
“One of the things about 3M is it not only pays a nice dividend, but they’ve increased their dividend every single year for more than 50 years, so it’s a nice safe play,” Maley told CNBC’s “Trading Nation” on Thursday.
The charts also point to more upside for 3M, he said.
“It’s broken up above its trend line going back three years, and it’s now trying to break to make a key higher high so if we can break above that level of $180 in any kind of meaningful way it’s going to be very bullish for the stock on a momentum basis,” said Maley.