Stock Tickers: HBC, CFC, WB, FMT, WM, RL, SLM
Cramer today said that the large Saudi investor buying into HSBC (HBC-NYSE/ADR) signals that banks might be attractive now. This is Maan Al-Sanea, head a huge conglomerate that is not Price Alwaleed Bin Talal.
Cramer said this lends credence that Countrywide (CFC-NYSE), Wachovia (WB-NYSE), and Washington Mutual (WM-NYSE) could all be acquired. The fact that Fremont General (FMT-NYSE) sold off $2 Billion in subprime lows is showing there is a bid out there.
Cramer said even SLM Corp, or Sallie Mae, (SLM-NYSE) being bought is showing that these in the group are taking out the short sellers.
On the retail sector, Cramer again pumped up Ralph Lauren (RL-NYSE). He said that this could to go to $110 to $115 based on the Coach (COH-NYSE) multiple out there.
Jon C. Ogg
April 16, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.