Cramer Quick Take: Disney Busts Recession Talk
NEW YORK (TheStreet) -- Recession, what recession? Jim Cramer told Debra Borchardt at TheStreet.com Wednesday that Walt Disney(DIS) , a stock he owns for his charitable trust, Action Alerts PLUS, isn't seeing any recession and is firing on all cylinders.
That should come as no surprise after other theme park operators Six Flags(SIX) and Cedar Fair(FUN) reported strong attendance. But Disney is also seeing strong movie revenue and sports a strong release schedule for the future.
Cramer said he suspects strong foreign attendance at Disney theme parks might also be helping to boost the company's bottom line. Regardless of where the revenue is coming from, he said the stock is undervalued and will be heading higher from current levels.
Watch the full Cramer interview here.
--Written by Scott Rutt in Washington, D.C.
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