Cramer's 'Mad Money' Recap: All Pro Sports Medicine

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"I have to recommend Halliburton(HAL Quote) wholeheartedly," Jim Cramer told "Mad Money" viewers Wednesday, and he believes that the stock will go higher once it stops "confusing" Wall Street.

He said that the company, which he owns for his ActionAlerts PLUS charitable trust portfolio, is really two companies. The first is the energy services group, and the second is the engineering and construction business, Kellogg Brown & Root.

That's the portion of the company that has had all the negative press in Iraq, he said.

"To put it simply, Wall Street loves pure plays, especially in the oil patch," he said. "You get more money for [pure plays] because the guys on Wall Street know exactly what they're getting and exactly what it's worth."

So when Halliburton said in January that it would spin off KBR, Cramer said that he predicted that the stock would go higher. The company filed for the IPO last Friday, he said.

The spinoff makes more value for both units, Cramer said. If Halliburton, minus KBR, were a standalone company, he said that investors would see that it's undervalued compared with the rest of the oil industry.

The industry multiple is 10, he said. Given that multiple, Cramer said he believes that Halliburton could go to $100.

He also believes that KBR is undervalued and that soon much of the bad press it has received from its work in Iraq will iron itself out.

Signs From the Times

In this weekend's New York Times, there was an article about the baby boomers that could make you mad money, Cramer said.

The article said that the demographic is exercising past the age of 50, despite wear and tear on the body, and that the trend shows few signs of abating.

There are stocks to be bought on this trend, he said, including the leading company in the sports medicine business, DJ Orthopedics(DJO Quote).