Why Jim Cramer Likes General Electric's Stock Here

New CEO makes this long-suffering stock look attractive.

Author:: TheStreet Staff
Publish date:: Jun 15, 2017 5:22 PM EDT

Jim Cramer says he likes General Electric (GE) - Get Report at current prices in the wake of news that CEO Jeffrey Immelt will step down and GE Healthcare President John Flannery will take over.

Cramer, whose charitable trust owns GE stock, said during an exclusive call with members of his Action Alerts PLUS club for investors that he had previously been frustrated with the company to the point of wanting to dump the name.

"On our last call I talked about how I wanted dearly to sell the stock of General Electric, but I feared that the company would replace their CEO right after I did and the stock would pop."

Sure enough, that's exactly what happened on Monday.

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This article was written by a staff member of TheStreet.