Jim Cramer: Buy Alcoa, Agco, and These 2 Stocks
Jim Cramer made the following calls on October 9th, 2013. What do you think about his picks?
Alcoa, Inc. (NYSE:AA): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Sell on August 13, 2013. The stock’s 52-week high is $9.37, and its 52-week low is $7.63. Cramer was positive on Alcoa, a stock that he claimed should be valued higher than it currently trades for. Cramer explained how the company was both a producer of the commodity aluminum and a producer of goods using aluminum. While the raw materials half of the company was at the mercy of swings in the commodity market, which Cramer believes is overproduced at the moment, the production half has put up fantastic numbers, and will continue to do so as long as demand remains strong in sectors such as aviation and trucking.
AGCO Corporation (NYSE:AGCO): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on September 23, 2013. The stock’s 52-week high is $62.31, and its 52-week low is $42.48. Cramer reiterated his buy ranking on AGCO, a company that has seen steady increases in the price of its shares since the beginning of this July.
ConAgra Foods, Inc. (NYSE:CAG): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on July 15, 2013. The stock’s 52-week high is $37.28, and its 52-week low is $27.48. Cramer was a fan of ConAgra despite the recent lack of performance from the company from an earnings perspective; its latest report, in which it reported $0.37 EPS, a full 3 cents below expectations, caused a sharp drop in the price of the stock. Cramer was more concerned about finding companies to hold during a potential debt ceiling crisis in Washington, of which he said ConAgra fit the bill perfectly.
Costco Wholesale Corporation (NASDAQ:COST): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on September 10, 2013. The stock’s 52-week high is $120.20, and its 52-week low is $93.51. Cramer pointed to the recent performance of the stock, in which a mediocre earnings report did not cause investors to make a major sell off of the shares, as a sign of stability within the company. He said that owning stable companies in uncertain times is a plus.
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