Jim Cramer is revved up about Corning (GLW:NYSE - commentary - research - Cramer's Take), not for its fiber-optic or LCD businesses but rather for its little-known diesel emission filtration business, he told viewers of his "Mad Money" TV show Tuesday.
Cramer said new, tougher diesel emission standards go into effect in 2007, and products that help reduce diesel emissions should be a billion dollar market by 2008. Corning should garner a "huge chunk" of that market, he said.
Five years ago, Corning was a fiber-optic business with an LCD business on the side, said Cramer. Now it's an LCD business with a fiber-optic business on the side. In five years, Cramer believes Corning will be a clean diesel company with an LCD business on the side.
Investors aren't yet factoring Corning's diesel emissions business into estimates, said Cramer, and therein lies the opportunity. The "stock's too cheap on the out years," he said.
Cash is King until further notice!!!
My comments on companies are usually my opinion of long term success (years). The PPS may go up or down greatly in the meantime depending on the number of greedy suckers with money.
