NEW YORK (TheStreet) -- Morgan Stanley initiated coverage on GW Pharma (GWPH) with a buy rating and a $103 price target.
"This stock will be up the most of any stock other than Allergan (AGN) today," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Cramer's Stop Trading" segment.
"This is a cannabis stock" -- not a medical marijuana stock, he argued. He said GW Pharma is "a real company" that has other business segments, while also having operations in the medical marijuana field.
"I am shocked at this" bold and timely analyst action, Cramer concluded, calling GW Pharma his favorite cannabis stock.
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-- Written by Bret Kenwell in Petoskey, Mich.