Cramer's Stop Trading!: Buy Boeing Stock

NEW YORK (TheStreet) -- On his Wednesday Stop Trading! segment on CNBC, Jim Cramer recommended Boeing(BA) as a strong buy.

This week, Boeing was upgraded at Goldman from neutral to buy, but Cramer said he wishes that analysts had been more bullish about the stock earlier.

"Where were they before?" asked a bewildered Cramer.

So which Boeing parts suppliers could benefit from Boeing momentum? Cramer named the following: Honeywell(HON), which he owns for his charitable trust, and Precision Castparts(PCP), which he calls a "very pure play."

In the meantime, in a sign that European contagion fears were starting to fade, industrials stocks continued climbing late afternoon Wednesday, with Caterpillar(CAT) rising 3% to $68.06. Even HP(HPQ) was up 2.5% to $49.64 -- and HP, of course, was among those companies hurt most by the contagion fears, Cramer pointed out.

"I think Europe's coming back," said Cramer, as he pointed out that the Freight Index was at a new high.

-- Reported by Andrea Tse in New York

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