On tonight’s MAD MONEY on CNBC, Jim Cramer continued his GREEN WEEK stock picks. Tonight he wanted to cover the buy on weakness for these stocks and tonight he covered wind power stocks. He said it is impractical in many parts of the country, but he noted many parts where wind will work. Cramer did note that the wind power tax credit could expire at the end of the year, and that would hurt the sector even though this is the cheapest energy out there. Here are his picks:
- Trinity Industries Inc. (NYSE: TRN) was one Cramer thought was only a rail car company, but they also have a wind operation for wind towers that was 6% of 2007 business in 2007 that may be 10% soon. At 8-times earnings and with it down 40%, he said he was wrong in his negativity last night. This stock closed up 3.5% today at $28.21, and shares rose 4.5% after his tout to $29.50; its 52-week trading range is $21.91 to $49.70.
- His favorite play on wind power is Otter Tail Corp. (NASDAQ: OTTR) that is a boring utility serving in the Dakotas and Minnesota that owns a wind construction company called "DMI" with huge growth the entire worth of the company. Cramer said that Otter Tail could reward shareholders in a spin-off. Shares rose 4% after-hours on this one to $37.45. If you go back to February, you’ll now know why maybe Bill Gates owns a huge portion of the company.
Earlier this week he has gone over various alternative energy stock picks that will work under various presidential candidates. Cramer went over his picks that he thinks will win in natural gas on Tuesday and on Monday night he returned to talk about his old picks in alternative energy stocks from 2007 with his updated Buy, Hold, or Sell recommendations on those.
Jon C. Ogg
April 24, 2008
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