NEW YORK (TheStreet) -- Sterne Agee downgraded shares of DSW Inc.
(DSW - Get Report) from hold to sell, while issuing a $23 price target.
On CNBC's "Cramer's Stop Trading" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said the downgrade will have a short-term negative impact on the stock.
However, "women are back buying shoes," he reasoned, based on Deckers Outdoors'
(DECK) and Sketchers USA's
(SKX) recent earnings reports. Therefore, "do not sell DSW."
Turning to Anadarko Petroleum
(APC - Get Report), an Action Alerts PLUS holding, Credit Suisse boosted its price target on the stock to $134 from $122 a day ahead of its scheduled earnings release.
The stock has a lot of ways to create shareholder value, including through M&A and consolidation, Cramer said. However, shareholders should own Anadarko Petroleum because "it's an inexpensive stock."
-- Written by Bret Kenwell in Petoskey, Mich.
Check Out Our Best Services for Investors
Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts