Deutsche Bank’s upgrade of Citigroup was a mixed bag for the Mad Money host. Cramer didn’t like that the news came on the eve of Citi’s earnings report, but he did appreciate the cautious tone struck by DB. Instead of saying the stock would shoot straight up, the research pointed to the government’s 34% stake, a gradually increasing book value and a normalized earnings model of a dollar, “all in far years out,” he said.
The best part of the report? The fact that there was an earnings model at all for Citi.
“We’ve not been able to do that for two years,” Cramer said.
Lastly, Cramer called analyst Meredith Whitney’s downgrade of Goldman Sachs a case of posturing. As the leader of her own firm now, attention-getting calls like these are good for Whitney’s business. He did note, though, that her interests might have conflicted with clients who wanted to sell GS quietly, as her attempts to generate a “maximum fear factor” make that all but impossible.
“She likes to make a big splash,” Cramer said.
Cramer's charitable trust owns Goldman Sachs.
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