The stock of German giant Siemens might be up 50% year-to-date, but the bull market in infrastructure should keep it climbing.
Siemens has its hands in a number of businesses, but it’s moving at a steady clip as a builder of trains, airports and power plants. It contributed parts to the Maglev super train in China and is one of only three companies working on the new airport in Bangalore.
Siemens is also a green company in the truest sense of the word, unlike a lot of infrastructure firms that claim the title. It’s the largest supplier of large-scale offshore wind turbines in the world – 6,000 installed and, Cramer thinks, rising.
But Siemens does a lot more. Considered the “GE of Europe,” Siemens’ medical, lighting and water divisions, in addition to that healthy infrastructure segment, are feeding the much-in-need countries of Central and Eastern Europe. Siemens also just got a contract to provide some of the technology behind Europe’s largest privately held managed IP communications network.
What’s amazing about a company this big is that last quarter’s numbers showed Siemens’ earnings per share were up 31% year-over-year. Not bad. On top of that, net income was 15% above consensus estimates.
GE is the parent company of CNBC.
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