Cramer's 'Stop Trading': Citi, Hershey
NEW YORK (
) --
Hershey
(HSY) - Get Report
should have never been added to
Goldman Sachs'
(GS) - Get Report
conviction sell list, Jim Cramer said during his Stop Trading segment on CNBC.
The candy maker was removed from the list on Thursday, Cramer noted, but the brokerage firm kept its sell rating on the stock. Goldman Sachs put a conviction sell rating on Hershey back in January and a $32 price target, at the time expecting high commodity prices to put pressure on the company.
"This angered me," Cramer said. He said Goldman Sachs isn't giving Hershey's management credit. "This is not the same old management," Cramer added. "They are much smarter."
Cramer suggested that Goldman Sachs do away with this conviction sell list because there have been mistakes on it. "It's embarrassing," he said.
Since Goldman put Hershey on the conviction sell list, its stock has grown nearly 14% and is currently trading at $41.38.
Currently, California, Greece and Kazakhstan all have the same credit rating. Out of the three, Cramer would pick California. But he says that investors should wait to buy bonds until after the fiscal year ends on June 30.
On the financial front, Cramer added that reports that
Citigroup
(C) - Get Report
isn't an international bank are wrong. "This bank will be 55% to 60% international and 40% to 45% domestic," he said. "None of the other banks in American are like that. They sold off their foreign assets."
And while Cramer loves Huntington Bank, he said he wants an international play, and Citi is, to him, No. 1 for that.
-- Reported by Jeanine Poggi in New York.
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