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"I regard that as the premium name in this market," Jim Cramer said of

Johnson & Johnson

(JNJ) - Get Free Report

on Friday's "Stop Trading!" segment on


. "It is probably the most pristine franchise of all."

The stock, which Cramer owns for his

Action Alerts PLUS

charitable trust, was downgraded earlier this week. "That was one of the single most unintelligent downgrades," said Cramer. "If you're going to have a market ramp like this one is, JNJ is going to go up with it."

Another stock Cramer owns for Action Alerts PLUS is

VF Corp.

(VFC) - Get Free Report

. "It's really been terrific weather for VFC. It's been terrific weather for retail," he said. "This stock makes a lot of sense to me."

VF Corp. has lowered expectations, pays a big dividend and is down 30 points, Cramer said. "For the first time, you do not have any expectations at all with this company, and I like that," he said.


(V) - Get Free Report



(MA) - Get Free Report

are "transaction-based companies," Cramer said. "I think the business models are great. I think the owners were hedge funds," and the hedge fund selling is over, he said.

At the time of publication, Cramer was long Johnson & Johnson and VF Corp.

Jim Cramer is a director and co-founder of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

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