Jim Cramer's Mad Money In-Depth Stock Picks, 9/19/07

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Includes: CSCO, DWNFQ, FED, KBH, KSS, LEN, LVLT, T, TGT, WFC
by: Miriam Metzinger

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Wednesday September 19. Click on a stock ticker for more analysis:

Never Too Late Kohl’s (NYSE:KSS), Target (NYSE:TGT), Wachovia (NASDAQ:WB), Downey Financial (NYSE:DSL), Firstfed Financial (FED), Lennars (NYSE:LEN), KB Homes (NYSE:KBH)

Cramer had a message for those who missed the 400 point rally: “It's not too late, you've barely missed a thing," He urged investors not to listen to “negative Nancies” who try to talk the market down and said many stocks are working in this environment, such as KSS, TGT, and banks like WB, DSL, FED. While he isn’t sure the homebuilders can be salvaged, he doesn’t think it is worthwhile to short LEN and KBH.

CEO Interview: Rick Lindner AT & T (NYSE:T)

Cramer called AT & T a good dividend stock that has “totally reinvented itself as a growth business.” It was courageous to take on the iPhone deal and has made some “gutsy acquisitions.” Rick Lindner commented that telco is making a comeback, and AT &T has better assets than its competitors and Apple’s iPhone has brought the company more business and store traffic, and the recent $200 cut in its price has meant greater demand. In addition, wireless data revenue keeps growing and margin expansion is strong. Lindner added he’s been pleased with broadband demand and the company’s video division. Discussing financials, Lindner pointed out AT &T’s secure balance sheet and lack of exposure to credit problems. Cramer said he was bullish on AT & T and recommended for parents who are looking for one stock to buy for their children.

Mad Mail: Cisco (NASDAQ:CSCO) and Level 3 Communications (NASDAQ:LVLT)

Cramer asked if Cisco’s acquisition of wireless company Cognio will spell a bandwith trend and mean huge revenue and profit growth for LVLT. While Cramer sounded hopeful, he reminded the writer that LVLT is currently stalled.

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