Cramer flags 5 industrial stocks he likes right now, including Boeing


In second place was aerospace colossus Boeing, shares of which are still up 24 percent for the year despite last week’s sell-off and lingering concerns around how trade disputes could affect the company’s business in China.

But Boeing’s business cycle “transcends the gyrations of the broader economy” because its key driver is the “long-term rise of the global middle class,” Cramer said.

As consumers in developing countries get wealthier, they spend on more luxuries, including air travel, he explained. That trend is directly correlated to business at Boeing and its only major commercial competitor, Airbus.

“That’s why the demand for these planes vastly outstrips the supply. Two makers! Boeing’s given us a series of fantastic quarters — I think we’ll get another one soon — but, most importantly, the company has nearly 5,900 planes in its backlog. […] That’s years and years worth of production,” he said. “In short, aerospace is so hot that I think Boeing’s worth buying into weakness.”

Source link

Products You May Like

Articles You May Like

Stocks making the biggest moves premarket: Illumina, Zoom Video, Milacron
What is your net worth?
Like Nike’s “Betsy Ross,” these sneakers sell for thousands
The Secure Act reduces incentive to reinvest 401(k) withdrawals
Analysts say buy these stocks in the second half

Leave a Reply

Your email address will not be published. Required fields are marked *