Jim Cramer's Mad Money In-Depth, 10/11/07: Don't Pig Out on Chipotle

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Thursday October 11. Click on a stock ticker for more analysis:

Chipotle Mexican Grill (CMG)

Cramer said it is time to sell CMG, which has seen a gain of over 200%. While he still likes the restaurant chain, Cramer notes its price is double its growth rate; "When a stock gets to this level, you just have to sell because the risk-reward becomes awful," he said. He prefers Google which is actually cheaper, even at $622 a share.

CEO Interview: Indra Nooyi, Pepsi (PEP)

Despite its glowing earnings report, PEP lost 2 points on Thursday. Cramer blames its domestic business which is laggard compared to its staggering overseas growth and excellent management. Cramer confessed Pepsi may "more of a hostage to the US market" than he suspected. Indra Nooyi commented; "I have no idea why the behaved the way it did. I think our numbers knocked the socks off anything." She discussed PEP's "fantastic numbers": 4% volume growth, 11% revenue growth and 10% operating profit growth. She added the company is prepared to deal with commodity costs, inflation and is recommitting 10% earnings per share growth. She outlined the company's plan for continued international growth and said, "Pepsi is a portfolio. It is like a mutual fund. Taken together it works." While Cramer still likes Pepsi, he cautioned investors about packaged goods, and said he would buy the stock under $70.

Spanish Armada: Banco Santander (STD)

Banco Santander which operates in Europe and Latin America is a "Spanish armada that offers checking accounts," said Cramer. While the stock was at $17, it has risen quickly, and Cramer believes its acquisitions will diversify the bank's deposit base. He adds the bank is a great way to play growth in Latin America and is a safe bet because it offers an ever-increasing dividend and is not in the lending business.

How Much is that Doggy in the Snowstorm? PetSmart (PETM) with CEO Philip Francis

Cramer asked "Why is the weather an issue with a pet chain?" after the company blamed the weather for its guidance cut. Francis replied that dog houses, dog beds and heated bowls are not "hot" items in the summer and add that pets, like people, eat less when the weather is warm; "Winter will happen, but it's delayed this year." Cramer agrees that winter will arrive at some point, and is standing by PETM.

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