Cramer's 'Mad Money' Recap: Love Qwest for Growth

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"If there's one thing that could make you some mad money, it's mindless hatred," Jim Cramer told viewers of his "Mad Money" TV show Thursday.

"But hatred is nothing unless you combine it with ignorance," he said, because a stock that's washed up, left for dead and hated by Wall Street is generally a money loser. But a hated stock that no one knows enough about, could make you moolah.

This is where Qwest Communications(Q Quote) comes in. "This stock is despised. It's cretinous. It's so disliked ... I am here to tell you that the haters are wrong," said Cramer.

He called it a triple buy -- it's a textbook comeback story, and none of the analysts have caught on.

Qwest is making a "fearsome comeback," has turned around its earnings and has generated some upside surprises, he said, adding that this turnaround is one of best he's seen.

The company is beating the numbers handily and has reduced its debt, but he said it's not the comeback story that will make you money, but the fact that analysts still hate it despite its recent success.

The analysts covering the stock have two buys, 13 holds and 9 sells on it, he said. He said that when the fundamentals are improving, but analysts have their heads in the sand, it's time to move in for the kill.

If Qwest keeps doing well, these analysts will have to upgrade, he said. Many investors buy and sell based on these ratings, so a series of upgrades should finally push Qwest higher.

Ten days ago, Citigroup boosted its earnings estimates for 2006 and 2007, but refused to upgrade Qwest. Cramer believes it will eventually have to capitulate to the good news, just like everyone else who has a sell on the stock.