Reasons to Like Pike

This column was originally published on RealMoney on April 11 at 12:01 p.m. EDT. It's being republished as a bonus for TheStreet.com readers.

For those of you addicted to playing hurricanes, take a look at Pike Electric(PEC Quote). This is the outsourcing play for all the utilities with downed lines after a hurricane. They sure aren't good at forecasting their own business, but when it comes to forecasting hurricanes, this is the play.

I recommended this right about here after Hurricane Katrina, when people didn't know that this company, along with Quanta(PWR Quote), can handle massive jobs that are required post-hurricane. (Truth be told, Quanta is a better company.)

What I like about Pike is twofold: 1. There will be hurricanes, and 2. they took the risk out of it today and gave you a chance at UPOD -- underpromising and overdelivering.

The infrastructure/fix-up plays are taking it on the chin again today. Again, as far as ancillary oil and gas plays, these are some of the best going. No matter. Pike's not being helped by that trend. All I can say, though, is, "Thank goodness it is not in health care." After that warning, it would be cut in half!

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At the time of publication, Cramer had no positions in the stocks mentioned.