Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Wednesday, September 26 Click on a stock ticker for more analysis:
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Cramer reiterated his prediction that the Dow may reach 14, 548, and says the goal will be closer if GM reaches a deal with UAW and if Warren Buffet buys a stake in BSC. GM’s deal should bring the stock to $45, and the Buffet stake will breathe new life in the depressed financials BSC, C, AIG, JPM and AXP virtually overnight.
Related: Felix Salmon explains why he thinks the UAW strike makes sense.
Oil Aboard: GardnerDenver (GDI)
With oil prices dipping, Cramer would find a cheaper oil play, and says GDI fits the bill. This company produces equipment that cleans wells prior to drilling and takes care of industrial waste, which means GDI is not just levered to oil. Half of its revenues come from overseas, and when oil prices rise again, so should GDI. "Earnings estimates that are too low breed higher stock prices," Cramer said, and added GDI is a good buy.
On the news that Abu Dhabi National Energy company paid a 33% premium for Canadian PrimeWest Energy trust, Cramer would look at other Canadian energy trusts, since he thinks companies like Abu Dhabi are not finished buying. After analyzing six Canadian energy trusts, Cramer says BTE is the best buy, because if it is bought at a 15% discount to the enterprise value per barrel per day (as PrimeWest was) the stock will rise 47%. Cramer would buy BTE the next time oil drops below $80 a barrel.
CEO Interview: John McMahon, Genesis Lease (GLS)
Cramer first recommended GLS in May when the company was at $26, and the stock price fell. At the current price of $23, Cramer considers GLS a buy, especially since McMahon discussed the company’s purchase of $380 million worth of planes, a move that will increase GLS’ rental price by 30%. McMahon says his company is undervalued and its dividend “Just got a little safer.”
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