Allegheny Tech (ATI) Can Still Run According to Jim Cramer
December 1, 2006 by Douglas A. McIntyreOn tonight’s MAD MONEY on CNBC, Jim Cramer discussed his stock of the year that is up and still going higher.
Cramer on Friday didn’t want to just pick the stock for next week, but for the month. Back on January 3 he picked he said that Allegheny Tech (ATI) was his pick then back $36.05 and now it is up at $88.00+. He picked this because of the titanium operations from aircraft expansions and other areas. He said if you have held this a long time it is at least time to take half off the table, but you can still buy this stock if you haven’t bought it yet.
You don’t have to sell this or avoid it just because it has more than doubled. He thinks this is still worth owning because of stainless steel and titanium because they service industries that are still strong.
Boeing locked in $2.5 Billion of the company’s supply just last week. It is still cheap on forward multiples to any fund manager in the world.
Jon C. Ogg
December 1, 2006
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