Cramer Thinks That Bank of America And Delta Air Lines Should Be Trading Higher

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On CNBC's Mad Money, Jim Cramer said that Bank of America Corp BAC reported a very good quarter on Tuesday. It had excellent loan growth, very good expense control and strong interest income. Its deposit growth showed that it is taking market share from other banks.

Cramer added that the tangible book value of $15.62 is a rock bottom value of the company, but the stock is trading more than $1 lower from that price. He explained that Bank of America is struggling because of some energy exposure and because investors expected more cost cutting. Cramer believes that the market is wrong about Bank of America and it should rally.

Delta Air Lines, Inc. DAL sells only at 7x earnings, while the average stock sells at 16.8x earnings, explained Cramer. He added that the company reported great earnings and it should be trading higher.

Cramer was a believer in Tiffany & Co. TIF, but he feels now that the stock deserves the punishment it is getting.

Dow Chemical Co DOW is a great company, but the stock is struggling recently and Cramer admitted that he has been wrong on the stock. He decided to hold the stock because of its high dividend yield.

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Posted In: CNBCJim CramerMediaMad Money
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