NEW YORK (TheStreet) -- "In my 32 years on Wall Street, I've never seen a less positive group of analysts," Jim Cramer announced to his "Mad Money" TV show viewers on Thursday, as he sounded off on what he called the most negative research he's ever seen.
Cramer said that sure there are worries in the market, but we're not headed for another downturn.Cramer said that "doing the homework" has always been a part of his daily routine. Reading earnings releases, listening to conference calls and analyzing research reports is a major part of stock picking, he said. Yet after the market meltdown and subsequent recession, it appears that Wall Street believes the market will stay bearish forever. "I've never seen anything like it," Cramer explained. He said when Whole Foods (WFM) reported an acceleration of an already fast-growing company, no one cared. Instead of recommending or upgrading the company, the analysts talked of stretched valuations, stating that the company's good news was already "baked into" the share price. Whole Foods is going from $77 to $100, said Cramer. Similarly, analysts remain indifferent over Apple (AAPL), a stock which Cramer owns for his charitable trust, Action Alerts PLUS. With the expected introduction of it's next iPad looming, Cramer said analysts should be telling investors this stock is headed to $500 a share. But again, nothing. Cramer said the trend continues with companies like 3M (MMM) getting a downgrade on the news of its new CEO, of shares of Cisco (CSCO) and Coca-Cola (KO) totally shrugging off great earnings. Cramer said things aren't perfect, but they're sure better than Wall Street analysts are leading on and it's costing investors big gains.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV