NEW YORK (TheStreet) -- Best Buy (BBY) - Get Report received a "fantastic downgrade" from Goldman Sachs analyst Matthew Fasslet, said Jim Cramer on Monday's "Stop Trading!" segment on CNBC. "I agree that the stock should be down a bit."
Fasslet was the first to recognize that Best Buy would benefit from Circuit City's demise, said Cramer, which adds weight to the rating cut. The analyst cut the stock to neutral from buy, based on competition from other retailers. Best Buy is "going to be squeezed at the bottom end by
, at the top end by
," said Cramer.
, on the other hand, got a positive nod from Goldman. "Goldman comes out and says stick with it," said Cramer, "It's opened up."
Over the weekend, Cramer visited Wynn competitor
Las Vegas Sands'
Bethlehem, Pa., casino and said it was "maybe the single most depressing trip I've taken in my life." He said that if that location, which opened in May, represents the company's plans for expansion, "I want to sell it."
-- Written by Rebecca Corvino in New York.