Jim Cramer's Mad Money In-Depth Stock Picks, Nov. 20

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Monday November 20. Click on a stock ticker for more analysis:

Treehouse Foods (THS)

Cramer comments that although some public leveraged-buyout firms such as KKR and AP Alternative Assets are down, Treehouse Foods is on the way up. THS is "an acquisition vehicle and a growth story" which has a "virtuous cycle," according to Cramer because it makes more acquisitions as it goes higher, and these deals put the company in a good position. Cramer would buy the stock now at its 52-week high because its "high share price is the currency it uses to buy other companies."

Oregon Steel (OS) Reliance Steel (RS), Nucor (NUE)

Hype over an article in the Wall Street Journal about a glut in the steel market caused many investors to miss out on "sweet" stocks like Oregon Steel. The article neglected to mention that these stocks were trading at five to six times earnings, and the glut was already priced in. However, it is not too late to pick up Reliance Steel, says Cramer, which may be taken over since there is a lot of consolidation going on the the steel industry, excluding Nucor, which Cramer thinks is doing too well to be bought. Reliance reported a great quarter, notes Cramer, and has strong fundamentals.

Related: On his September 28th show, Cramer discussed strategies for buying during a "steel glut."

Interpublic Group (IPG)

Cramer likes this company because it is coming back after having been a "horrid disappointment" with its accounting problems, although this turnaround has not yet been reflected in the stock. Recently IPG "snagged a massive contract with GlaxoSmithKline" and is working with Wal-Mart, notes Cramer who adds that the company had a great quarter, is cutting expenses and is increasing revenue. Since none of its contracts are under review, IPG will not lose customers: "The bottom has been put into this stock, and opportunity is knocking. It is a triple buy," says Cramer.

Related: Douglas MacIntyre discusses IPG's "nightmare" last spring.

CEO Interview: Sylvester "Chip" Johnson of Carrizo Oil & Gas (CRZO)

When Cramer asked Chip Johnson why investors should buy shares of his company which has natural gas exposure, he replied "Even in the near-term, gas storage is full, but is only about 4% higher than the highest level it reached a couple of years ago." He recommended taking a long-term view and said that his company had "one of the biggest anchorage positions" in Texas gas field BarnettShale. Johnson admitted that he wasn't sure why natural gas has hit bottom. "We had most of our gas hedged, so we weren't worried about it in the near-term, but the fact that it has bounced back now seems a little premature to us." Cramer suggested that while those who are bullish on natural gas should buy CRZO, he is not bullish.

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