The recipe for cooking up a "truly great stock pick," Cramer said on Monday, simply calls for having a good idea.
Take Panera Bread, for example, which seeks to serve high-quality food to nutritionally conscious eaters. It's a philosophy similar to that of Cramer fave Chipotle Mexican Grilland one that appears to be working, as Panera continues to grow with 1,421 locations in 40 states.
Cramer first recommended Panera in July 2008 when the stock was trading at $48.74. It's since climbed 118 percent, where the S&P 500 is down 2.8 percent over the same period. Panera's 2010 same-store sales are projected to grow 7 percent to 8 percent, and it plans to accelerate its new-store growth with 95 to 105 new locations in 2011.
Despite Panera's stock being less than 2 points off its high, Cramer thinks it's still cheap. Selling for 24 times next year's earnings with an 18 percent long-term growth rate, he thinks it still has room to run. To find out how much further it could rally, Cramer invited co-founder and Executive Chairman Ronald Shaich onto "Mad Money." Watch the video to see the full interview.
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