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NEW YORK ( TheStreet) -- Want to know why the markets just won't quit? Jim Cramer told his "Mad Money" TV show viewers Monday that it's partially because the analysts are still too negative on stocks. That was clearly evident today as three left-for-dead names came roaring back to life.
Cramer said Citigroup (C) was able to deliver terrific earnings that no one was expecting, especially the analysts who were supposed to know better. No matter what metric you use, whether it's tangible book value or the company's growth in emerging markets, Cramer said Citigroup deserves a higher valuation, which is why he's now recommending it as a buy, buy, buy.
Leap Wireless (LEAP) was another forgotten stock until today, said Cramer. Sure, on an earnings per share basis the stock may have been fairly valued, but the analysts were forgetting that there's a spectrum shortage here in America, and operators are desperate for more bandwidth. That made the enterprise value of Leap a lot higher than where its shares were trading on Friday, which is exactly why AT&T (T) was willing to pay almost twice that value today.Finally, Cramer singled out Hewlett-Packard (HPQ) for the addition of its three new board members. He said while boards of directors are typically not a focus on "Mad Money," in the case of HP, which has historically had one of the more fractured and dysfunctional boards of all time, the addition of three great candidates is huge news for this beaten-down stock. If those weren't enough, Cramer said there's also Best Buy (BBY) and Netflix (NFLX), which were left for dead by the analysts last year, but are up 150% and 179% respectively so far in 2013.
Know Your IPOIn the "Know Your IPO" segment, Cramer highlighted some upcoming deals he said are worth the invesment because initial public offerings remain one of the hottest spots in the entire market. Cramer said digital coupon Web site RetailMeNot, is actually a real company with real earnings and deals with over 10,000 retailers across the nation. With 9.1 million shares pricing between $20 and $22 a share, he said he's a buyer up to $24, but would sell after the IPO has completed.
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