On the political end, Cramer said investors were nervous when the Democrats took over Congress because they thought the government would go after Genentech and crater its sales because it's a health care company.
It's now apparent, however, that the Democrats' taking over shouldn't have any negative consequences for Genentech, he said. Also, count out inflation risk because it affects future earnings and has already peaked, Cramer said. Therefore, he believes that DNA stock is "ready to go back to where it was a year and two months ago." Cramer called Genentech a best-of-breed biotech stock, with a drug pipeline that's "looking good." Taking a conservative stance, Cramer predicted that the stock would go to $104; taking a bull case, he said it would go to $140. Genentech closed Thursday's regular session at $87.53.Sell Block
In his "Sell Block" segment, Cramer said it's time for viewers to celebrate profits. After recommending Guess? (GES Quote) on Oct. 9 and reaping 38.7% in gains, he said it was time to sell the stock. Cramer also advised ringing the register with XM Satellite Radio (XMSR Quote) because he believes "it has run out of steam" and has no more upside potential. Further, although he said Interpublic Group of Companies (IPG Quote) could go higher, Cramer said it's time to lock in the stock's profit and sell it. Lastly, he said it's time to say goodbye to Deere (DE Quote), a stock he's "liked for a long time."- Loading Comments...
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