We're starting out defensive today, with Procter & Gamble ( PG). P&G is the quintessential blue chip stock. It's massive, with a $182 billion market capitalization; it's old, founded 175 years ago; and it pays out a hefty dividend yield of 3.37%. For investors looking for security and stability, the old wisdom is still the same: Buy blue -chip names like P&G. But this stock could have more upside than expected thanks to rising analyst sentiment in shares this week. Procter & Gamble is one of the world's biggest manufacturers of consumer products. The firm owns a big portfolio of popular brands that includes everything from Tide detergent to Charmin toilet paper and Cover Girl cosmetics. An abundance of household names and massive scale means that Procter & Gamble can easily secure the most attractive slots on grocery shelves, and that the firm has some semblance of pricing power over its customers. Those factors have helped P&G generate massive free cash flows in the past few years, cash that the company can return to shareholders via its dividend. >>5 Blue-Chip Stocks Ready to Boost Dividends Cost is key to P&G right now. Over the next few years, the firm expects to slash around $10 billion in costs from its income statement, a major initiative that should help to capture back some of the margins that Procter has lost from rising input costs. Ultimately, this behemoth is a good core holding for most anyone's portfolio -- especially with rates near zero and uncertainty still high.