Cramer Quick Take: I'll Back This General
NEW YORK (TheStreet) -- There's only one general that Jim Cramer would follow into battle, and it's not General Mills (GIS) .He told Debra Borchardt at TheStreet.com Wednesday that General Electric (GE) , a stock he owns for his charitable trust, Action Alerts PLUS, is the real opportunity.
Cramer said that while General Mills is a stock that lets investors sleep well at night, it lacks the growth and yield of other packaged goods companies including McCormick (MKC) , Hershey Foods (HSY) or Kellogg (K) .
As for General Electric, Cramer said investors have a love hate relationship with this company, but he'd use a recent downgrade as a buying opportunity. GE is a play on a global economic recovery, he said, the same recovery that has shareholders of FedEx (FDX) so excited should do the same for GE shareholders. Cramer said GE's lackluster guidance is merely conservative and he expects great things in 2013.
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-- Written by Scott Rutt in Washington.
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