Jim Cramer made the following calls on September 27th, 2013. What do you think about his picks?
Insys Therapeutics Inc. (NASDAQ:INSY): Jim Cramer ranked this stock a Buy. The stock’s 52-week high is $37.94, and its 52-week low is $6.55. Cramer said that the stock is reasonably valued even though it has risen by over 300 percent this year, making Insys Therapeutics a reasonable call for someone looking to invest in a company that hasn’t been around for all that long. The company has posted especially strong gains in the past two months, a trend Cramer expects could continue into October as the stock builds momentum.
International Paper Co. (NYSE:IP): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on September 16, 2013. The stock’s 52-week high is $50.33, and its 52-week low is $32.95. Cramer reiterated his buy ranking on International Paper, despite many analysts having recently downgraded the stock. The news did not make Cramer unhappy, as he said that it could keep the price of the stock down temporarily and create a buying opportunity, and Cramer remained convinced that the stock would be a winner regardless of other opinions on the Street.
J. C. Penney Company, Inc. (NYSE:JCP): Jim Cramer ranked this stock a Sell. Cramer previously ranked this stock a Sell on July 12, 2013. The stock’s 52-week high is $27.00, and its 52-week low is $8.85. Cramer was bearish about J.C. Penney, a company that he claimed needed to have fewer stores throughout the country in order to be truly profitable. He compared the company unfavorably with other brands that have room to expand, saying that a contraction, while necessary for the retailer, was not likely to be well received by observers anyways.
Linn Energy, LLC (NASDAQ:LINE): Jim Cramer ranked this stock a Sell. Cramer previously ranked this stock a Sell on July 2, 2013. The stock’s 52-week high is $42.57, and its 52-week low is $20.35. Cramer was an all-around pessimist about Linn Energy, reiterating his sell recommendation from a couple months ago. He pointed to accounting issues in the company as a huge problem, but also claimed that the stock was so low that it wasn’t really worthwhile to sell if one already had invested in the company.