Cramer's 'Mad Money' Recap: Up the Dow Staircase

Plus, he said that in this environment almost anything can be taken over. "It is the ideal atmosphere" for this index to go higher, he said.

Dow Fever

Cramer began his weeklong series giving his take on the first six names in the Dow. Starting with Alcoa (AA Quote), he said that this is a stock that has been on a "rampage."

It is up 30% already, and Cramer said he sees it going to either $42, in the event it gets taken over, or $45 on its own earnings.

American Express (AXP Quote), the second Dow stock Cramer named, is up only 5% this year, he said.

The company's "remarkable CEO keeps building," but the stock can't keep up, he said. In fact, it's below MasterCard (MA Quote) in terms of valuation. Cramer said he expects American Express to reach $72 by the end of 2007 as it plays catch-up to MasterCard.

AIG (AIG Quote), a stock he owns for his charitable trust, Action Alerts PLUS, is "another name that's not getting the respect it deserves," Cramer said.

This is a company that has a "gigantic" business in China and that recently raised its cash dividend by 21.2%. According to Cramer, AIG could see another 10 points this year.

Moving on, he said AT&T (T Quote) is up 13% already, and he predicted that it should "inch its way" to $45 by year-end.

Boeing (BA Quote), Cramer continued, should go beyond his original forecast of $100 and reach $105. The aerospace bull market is one of the most "tremendous" bull markets because airlines refinance their balance sheets, buy more planes and create pin action for Boeing, he said.