Jim Cramer Believes “Boeing’s a Must Buy”

The Boeing Company (NYSE:BA) is one of the stocks Jim Cramer commented on. During the episode, when a caller asked about the company, Cramer commented:

“I think Boeing’s a must buy. I think Boeing’s a must buy. I have looked the CEO in the eye. I think he’s a terrific guy, Ortberg. And I will tell you this, this company just gave up a huge percentage of the gain that it has had. And why buy anything at the top when you get something near the bottom? That’s Boeing.”

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The Boeing Company (NYSE:BA) designs, manufactures, and supports commercial aircraft, defense systems, and space technologies. During the September 22 episode, Cramer called the company stock “too good to ignore.” He remarked:

“If you bought Boeing on weakness during the strike last fall, you’d now have a nearly 36% gain. These guys have been running circles around the unions for decades. I don’t see that changing anytime soon… Long story short, Boeing’s now officially a Charitable Trust holding thanks to the stock’s recent pullback. So you should know the core case for owning the stock. The company’s gradually ramping up production for its key aircraft models, the 7377… and remains mostly on track with these efforts. Boeing’s balance sheet is much, much better than it was after the huge recapitalization effort late last year.

And now there’s a line of sight to positive free cash flow in the near-term future with the promise of $10 billion worth of free cash flow or more per year once the company gets its production levels up to its previously stated targets. Meanwhile, regardless of how you feel about the President’s trade agenda, it’s been phenomenal for Boeing with some huge aircraft orders coming from the Middle East, Korea, and the UK. Potential of a massive deal still to come from China, assuming those trade talks don’t fall apart. On top of everything else, we’re getting, finally getting reasons to be cautiously positive on Boeing’s defense business.

The bottom line: Put it all together and I think Boeing’s simply become too good to ignore, especially after the stock’s recent hard pullback… and why you’ve got my blessing to begin a position tomorrow.”

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Disclosure: None. This article is originally published at Insider Monkey.