Jim Cramer: Buy Bristol-Myers, Citigroup, and These 2 Stocks
Jim Cramer made the following calls on July 15th, 2013. What do you think about his picks?
Bristol-Myers Squibb Company (NYSE:BMY): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on June 11, 2013. The stock’s 52-week high is $49.57, and its 52-week low is $30.64.
According to Cramer on last night’s lightning round, “I like Pfizer (NYSE:PFE), said Cramer. I’m a buyer. And in the space, I think Bristol-Myers under $45 is also a buy.” Bristol-Myers has been active lately, giving their new Elquis label some love, as the FDA is reviewing a new medicine intended to treat for the prophylaxis of deep vein thrombosis, which may lead to pulmonary embolism in adult patients who have undergone hip or knee replacement surgery. The drug is currently available in present form in the European Union, including Norway and Iceland.
Citigroup, Inc. (NYSE:C): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on June 13, 2013. The stock’s 52-week high is $53.56, and its 52-week low is $24.91
On the back of stronger-than-expected earnings, Cramer advocated buying Citigroup, looking at the fact that they went above and beyond investors thought. He added there are many metrics that can be used to justify buying this stock, including book value and growth in emerging markets. Euromoney, a prominent finance magazine, recently awarded Citigroup for their operations in emerging markets, saying that:
“As global macroeconomic concerns, regulatory requirements and market pressures for cost-cutting bite universal-banking rivals, Citi continues to position its core global franchise in emerging markets, across retail, corporate and investment banking. As credit expansion continues to outpace nominal GDP growth in developing markets, the bank has reaped the subsequent growth in loans, deposits and earnings.”
AGCO Corporation (NYSE:AGCO): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Sell on July 16, 2012. The stock’s 52-week high is $56.83, and its 52-week low is $40.29.
Martin Richenhagen, chairman, president and chief executive officer of Agco was on Mad Money last night, discussing growth in emerging markets and what it means for the agricultural industry with Cramer. Agco is currently the number two company in the space in India, and Richenhagen said that reducing fuel consumption and boosting crop yields with minimal pesticide and fertilizer have been a hallmark of his company in these markets. He also noted that as these markets become more prosperous, they want to eat more meat which in turn drives demand for crop production.
B&G Foods Inc. (NYSE:BGS): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on June 17, 2013. The stock’s 52-week high is $35.73, and its 52-week low is $24.69.
Cramer offered B&G as an alternative to Pinnacle Foods (PF) during the lightning round, saying that he was frustrated with the latter. B&G has recently acquire Pirate Food brands for $195 million in cash. Pirate Brands are a large player in the natural snack food market, and the company has high hopes for its immediate usefulness. David L. Wenner, President and Chief Executive Officer of B&G Foods, said in a statement that, “Consistent with our acquisition strategy, we expect the acquisition to be immediately accretive to our earnings per share and free cash flow.”