Following up on the day’s retail sales report, Cramer predicted Urban Outfitters could once again see its 52-week high on “any bit of good news.” The stock dropped to $31 from $36 “all because they were a little cautious in September,” he said, but a good quarter could reverse the trend.
J.P. Morgan has lifted its price target on Apple to $400. The problem with that number, though, is that it uses a 2011 earnings-per-share prediction of only $18 and change. But if it's true that the company will ship as many as 45 million iPads in 2011, and Verizon sells the 10 million iPhones that Cramer thinks it will, Apple’s EPS next year will be a lot higher than that.
“There’s no way they’re going to do less than $22,” Cramer said.
Cramer also talked up Citigroup , citing specifically the bank’s international operations.
“All the other banks are jealous,” he said. “They have a great book of business.”
Finally, Cramer finished with more bullish talk, saying that the Dow doesn’t creep this close to 11,000 for no reason. While it’s true that Thursday wasn’t exactly a good day for the market, what with oil and copper down and the dollar up, there are names like IBM driving the bellwether index higher.
“You’re starting to see some Dow stocks that really could power us through 11,000 without a lot of effort,” Cramer said. “And I think that’s what people should focus on.”
When this story published, Cramer’s charitable trust owned Apple.
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