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Cramer sees long-term tailwind for Boeing stock

Based on better-than-expected orders at the Dubai Airshow this weekend, Boeing could have 10 to 15 years worth of upside if its CEO can control labor costs, CNBC's Jim Cramer said Monday.

Boeing received more than 250 orders of its refurbished 777 aircraft at the event, bringing in more than $100 billion for the Chicago-based company, based on list prices. Major Persian Gulf carriers bought the biggest share of the airliners: The Emirates ordered 150 and Qatar 50.

Boeing shares have nearly doubled in the past year. On Monday's "Squawk on the Street," Cramer called it the "greatest American manufacturer."

(Read more: 10 most expensive corporate jets on the market)

Adam Jeffery | CNBC

"The 777 is a money plane," he said. "They're going to make a fortune on each plane they make."

Cramer warned investors against cashing in on the stock, as Boeing seems to be in the second year of a seven-year cycle it follows when it rolls out a new aircraft.

Boeing shares jumped in premarket trading Monday, and its stock reached a 52-week high of $142 a share within the first 30 minutes of the session.

(Read more: Gulf carriers dominate air show with $192 billion splurge)

The prediction of strong, long-lasting performance at Boeing comes despite labor strife among union workers and the crash of a Boeing 737 jet in Russia this weekend in which 50 passengers died.

"If [Boeing CEO Jim McNerney] is able to get the labor costs under control, then the next thing you know you've got a company that could have a multiyear move," Cramer said. "It's been the best-performing stock in the Dow. It is so not done. … These orders verify that this company has got a road map that could easily last, frankly, 10 to 15 years of upside."

(Read more: Boeing hits all-time highs despite union rejection)

The heightened attention on Dubai represents a shift in the aerospace industry, according to Cramer.

"What's incredible here is the fulcrum for all aerospace used to be the Paris Airshow," he said. "And now there's a gigantic shift to Dubai."

—By CNBC's Jeff Morganteen. Follow him on Twitter at @jmorganteen and get the latest stories from "Squawk on the Street." The Associated Press and Reuters contributed to this report.

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