Opinions
Jim Cramer - Mad Money
Howmet
HWM-N
BUY
Nov 21, 2022
Stock price when the opinion was issued
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Precision, specialized parts and fastening systems for aircraft. Defense market, which is performing well. Next generation of jet engines delayed, so those selling parts are doing well. Up close to 2.5x in last 12 months. Gapped higher on every earnings report in that time.
Continually beats estimates. One of his top ten positions. Making a new absolute and relative high against the market. Thought of using it as a Top Pick today. Chart shows the archetypal stair-step higher of rallies and consolidation.
RSI has been steadily improving for aerospace and defense since September 2022. Replacement cycle means lots of business at high margins. Made an RSI new high today relative to the market. Incredibly resilient. Trump's policies will steer other countries to spend more on defense.