Donald Trump wasn't the only big winner in November, the U.S. Dollar also emerged victorious, gaining approximately 4% since Election Day. And, analysts at Morgan Stanley say the Greenback could grow even stronger in the coming year. The investment bank is looking for the Dollar Index to gain 6% in 2017.

That said, if recent weakness in the Euro, Yen and Yuan continues, this could cause additional currency risks for Electrical Equipment-makers.

Morgan Stanley says the companies in the sector most exposed to an overly strong dollar are: SPX Flow  (FLOW) , Ametek  (AME) , Illinois Tool Works  (ITW) and Fortive  (FTV) .

They add that multinationals including 3M (MMM) , United Technologies (UTX) , Honeywell (HON) and General Electric (GE) could also be pinched by a stronger dollar as more than 10% of their sales come from exports. (GE is a holding in Jim Cramer's Action Alerts PLUS portfolio.)

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Action Alerts PLUS, which Cramer co-manages as a charitable trust, is long GE stock.