Jim Names PNC His Favorite Trade Of The Day
In Wednesday's "Stop Trading!" segment, Jim said that following the global vehicle recall by Toyota Motors (NYSE: TM), Ford (NYSE: F) is currently the best investment in the sector. He believes that F’s numbers will keep improving, as the similarity between Honda (NYSE: HMC) and TM will restrict people from buying Honda vehicles. Given F’s balance sheet and ability to get better financing, Jim predicts the stock to trade around $20 soon.
Jim said that his current favorite is PNC Financial Services (NYSE: PNC). PNC had yesterday sold shares worth $3 billion at $54 a share to pay back its government bailout. Although the company had a good quarter, its shares were not seeing an uptick due to weak overall investor sentiment, Cramer mentioned. After falling 1.72% yesterday, PNC’s shares moved up 0.19% in after hours trading.
