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Thursday, October 26, 2006

Cramer Gives a Triple Buy to ConAgra (CAG)

Cramer said this was once a joke, but now he gives a "Triple Buy" to ConAgra (CAG). He said it is a joke of a company on the street, but it is $0.50 within its 52-week high. He thinks it is worth a second look and he thinks "Buy, Buy, Buy."

Cramer said that all of these brands jumbled together were a problem with the past management. He said the company thought it was a food company, but they are a brand company. The brands have to be managed but no one knew how to manage brands there. They took a brand-god named Gary Rodkin from Pepsi, and he knows how to run a brand.

Cramer said that analysts don't know how to account for brands in between the P/E ratios and how the brand can be worth more. He said that

The analysts are very negative with 3 sells, 4 holds, and 2 buys. He said that the estimates are too low and the street is going to have to catch up.

Jon C. Ogg
October 26, 2006
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