Cramer Quick Take: Buy GE Here
NEW YORK (TheStreet) -- General Electric
He spoke after the company announced it's buying Lufkin Industries
Cramer said that while GE remains strong in both health care and aerospace, the company is shedding its non-core assets, such as entertainment, to get back to its industrial roots. He said that GE will be making a big play into energy over the next few years and Lufkin was a prime target given its low valuation.
Cramer said he'd be a buyer of GE at current levels as he sees the company's move into oil and gas will translate into a multi-year move higher for the stock.
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-- Written by Scott Rutt in Washington.
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