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Black & Decker's Bottom

Power tool maker Black & Decker is the closest thing to a 'can’t lose' proposition in this stock market, Cramer declared on Friday’s Mad Money. “BDK is the right stock at the right price at the right time,” he said.

First, BDK is the type of stock sure to benefit first off the turn in housing, Cramer said. But that’s not the best part. Cramer said that BDK, currently at $71, should go no lower than $65.

He got to that conclusion by going to the tape. BDK reported earnings Monday along with the kiss of death of horrible guidance for next quarter. Yet the stock opened at $65 and change and closed the day just below $70. Why?

Cramer also mentioned the possibility that BDK could be an attractive takeover target to a European buyer because of the weak U.S. dollar. It’s a $7.3 billion company that translates to $3 billion euros. With the best brand name in the business and improved fundamentals, BDK is practically a steal.

But the bottom line is that, with a recession is already baked into BDK, Cramer doesn’t see the stock dipping below $65. The bad news is in its past, he said. Time to look to the future.

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  • Jim Cramer

    Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."

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