The Best Chemicals Play Right Now?
“We’ve got a genuine bull market in chemicals fueled by the global economic love train,” Cramer said Friday. “Best way to catch it? Cramer fave PPG.”
PPG Industries is up 23 percent just since July 16, when CEO Chuck Bunch last appeared on the show. That’s more than double the S&P 500’s 11 percent over the same time period. And the stock’s climbed 70 percent since Cramer’s June 11, 2009, recommendation, or 77 percent with reinvested dividends. Still, he thinks the stock could go higher.
Why? Because the most recent quarter was a thing of beauty, as Cramer likes to say. The $1.59 a share in earnings, when even adjusting for an 8-cent benefit from lower taxes, still beat analysts’ estimates by 7 cents. And that came on top of a 7-percent sales increase.
Cramer wanted to know more about this great quarter, as well as PPG’s future. Watch his interview with CEO Bunch for more on that.
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