Cramer's 'Mad Money' Recap: Amazon's Amazing Run (Final)

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NEW YORK (TheStreet) -- "This is one of the most despised bull markets ever," Jim Cramer told the viewers of his "Mad Money" TV show Wednesday.

But while the skeptics continue to mistrust the markets, Cramer said there's one stock that's a non-stop party with more 74 points of upside.

That stock is Amazon.com (AMZN Quote), said Cramer, a stock that's hated by the bears, but also one that's up 245% for the year.

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Cramer said he's not deterred by Amazon's monster move to the upside because he remembers the company's monster move of yesteryear, when between April 1998 and April 1999, the Amazon rallied from $6.75 a share to $104.56 a share, a 1449% move.

Could Amazon be poised for another ten fold increase? Cramer said simple arithmetic holds the answer. He said given that Amazon is one of the few companies with an accelerating growth rate. He said most money managers are willing to pay twice the company's growth rate of 30%, or up to 60 times its earnings.

Most consensus estimates have Amazon earning $3 a share next year, but Cramer said that number is too low given the growth in online shopping that was clearly exhibited on Cyber Monday.

He estimated the company could earn as much as $3.60 a share next year. Doing the math, $3.60 a share times 60, Cramer put a price target on Amazon of $216 a share, or 74 point higher than where it trades today.

Cramer said investors can be skeptical if that want to and doubt Amazon's prospects, but if history has taught us anything its that nothing can hold this online retail giant down.