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Jim Cramer's Top Dow Picks for 2011
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The integration of the three companies, original Bank of America — itself a pastiche of many banks including Nations and Fleet, where Moynihan's from — Countrywide and Merrill Lynch will finally be consummated in 2011. Glorious.
Don't forget that despite all of the turmoil, Bank of America now has an unheard-of 20%-plus market share in the nation's mortgage market, and I think that market will come alive as the housing shortage of 2012, another of my predictions, comes about. I see this stock trading at $18, where it stood not that long ago, a terrific gain.
Boeing [BA
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]: The Dreamliner schedule should solidify at last and even if Boeing produces just a few of these mammoth and insanely profitable planes, the stock will soar along with them. Production is key to this company because once it gets the cost down per plane — something that happens as it makes more and more of them — then the gross margins explode.
I think that this stock could trade to $85 by year end because it is then inconceivable that the Dreamliner isn't being sold.
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Don't forget that aerospace makers have had seven-year cycles in the past, so I don't expect the stock to stop rallying in 2011. Lots of growth here for certain, and perhaps the most long-term visibility in all of the Dow.
Caterpillar [CAT
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]: This stock could be a monster in 2011, especially with the integration of Bucyrus [BUCY
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], which I think will turn out to be a fantastic acquisition. Estimates, currently showing EPS at about $6, I think are way, way too low.
I see this stock going to $120 in the next year. Too gutsy? Ask yourself what happens if the United States comes back as a growth nation. Right now almost all of the growth is overseas. Still a fantastic mineral play and a terrific call on world growth.
Chevron [CVX
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]: I see oil going to $100 a barrel in 2011 given the expansion of the world's economy. Chevron is very levered to the price of crude — much more than Exxon — and I see it outperforming its peers. Nevertheless, those who bought it because of its yield will, of course, be left high and dry as I think it can go to $110 on the strength of the oil price and a very aggressive plan to produce more oil. Just a great solid stock to own in 2011. Maybe the best management in the industry, too.
Next: "Still the best-run bank in America, if not the world."
Data is a real-time snapshot *Data is delayed at least 15 minutes
