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Jim Cramer's 'Stop Trading!': Buy Eastman Chemical on a Dip

TheStreet.com Staff

04/25/08 - 03:14 PM EDT

Investors should buy Eastman Chemical (EMN - Cramer's Take - Stockpickr) if the stock declines from its current lofty levels, Jim Cramer said Friday on CNBC's "Stop Trading!" segment.

The company, he pointed out, has been buying back stock, and analysts hate it, he added. "EMN's up too much," he said. "It will pull back." When it does, investors should consider buying the shares, Cramer said.

He also said he likes Owens-Illinois (OI - Cramer's Take - Stockpickr).

Cramer also discussed ethanol, and he spoke positively about Monsanto (MON - Cramer's Take - Stockpickr), saying the company is like Amgen (AMGN - Cramer's Take - Stockpickr) was in 1991 and 1992. Along with fertilizer makers, Monsanto will be key to solving the world's food problems, he said.

"Monsanto is the secret," he said. "We're not going to grow our way out of this" without Monsanto and fertilizer companies such as Mosaic (MOS - Cramer's Take - Stockpickr) and Potash (POT - Cramer's Take - Stockpickr).