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[video] Jim Cramer Quick Take: Are J.C. Penney and Best Buy Dead-Cat Bounces?

Stocks in this article: BBY JCP M TJX

NEW YORK (TheStreet) -- TheStreet's Jim Cramer posed a big question Thurday: "J.C. Penney (JCP) and Best Buy (BBY): Comeback kids or dead-cat bounces?"

Recently,  Best Buy stock was up 4.96% to $27.11. J.C. Penney was up 24.6% to $7.42. Is this kind of bounce deserved or not?

Cramer assessed J.C. Penney as a "mediocre retailer," but one that isn't anywhere near going out of business. He guessed the stock could trade to $9 or $10 "without a problem."

Best Buy still shows some upward momentum, Cramer said. He wouldn't be surprised to see a 10% move. Management is working to fix the company, and consumers are spending a little more freely. That could benefit the company.

"Both stocks could trade higher," Cramer said -- but they aren't his favorites. That distinction goes to Macy's (M) and TJX (TJX), both of which are in the Action Alerts PLUS charitable trust portfolio, of which Cramer is co-manager. Macy's and TJX are a better value for investors in retail stocks, Cramer judged.

--Written by Nora Morrison in Cleveland.

 

 

Nora Morrison is a researcher, writer and editor on music, popular culture, and business topics. She is an associate editor at TheStreet, and is on Twitter at No Ticker.

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