Cramer: ‘One of the Best Run Banks in the World’
In today’s Stop Trading!, Cramer is looking into names that aren’t exactly on the mind of many traders, but could be poised to make big gains.
After Cramer’s bullish call on Citigroup over the past few weeks, the stock has continued moving up and it’s encouraged him to find more bullish names in the financial sector.
Cramer has already highlighted First Niagara and BB&T as good banks to own, but he’s adding another to his list.
What is Cramer’s new banking Colossus?
None other than Banco Bilbao Vizcaya, which is currently in the $16 range, and Cramer thinks it can go higher. He points out that the stock was at $23 before it even emerged as being a very strong bank, saying “this is one of the best run banks in the world.”
There has also been good news for the big appliance makers, as a portion of the government stimulus is set to allocate $300 million in rebates to consumers for purchases of Energy Star-rated appliances. Cramer points out the bullishness in Whirlpool after this news became widely known, while Sears was doing poorly.
However, Cramer thinks that if this “Cash for Dishwashers” program really kicks in, maybe Sears is not such a bad bet. Whirlpool is up $3, Cramer points out that the people who sell Kenmore, a line of products produced by Whirlpool, should similarly be up.
Another headline making news today was the Goldman Sachs upgrade of Google, which Cramer was watching closely and is a little skeptical. He notes that one of the reasons for the bullish recommendation was on “multiple expansion,” which Cramer says is “never a good reason to buy a stock.
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