Procter & Gamble
is going to $70, Jim Cramer said Monday on
"Stop Trading!" segment.
Cramer said the Cincinnati-based consumer goods giant, trading recently at $64.50, is a good bet to rise off Tuesday morning's earnings. He said consumer goods plays such as
have been getting revalued by the market recently, and he expects P&G to be the next to benefit from that trend.
Cramer said he is "very reluctant" to give up on
heading into their earnings, but he cautioned that he wouldn't buy the common shares right now either. Cramer said there's too much shorting going on in both these apparel players to justify betting on short-term moves in the shares. Cramer said he likes the stocks for the longer term but said anyone looking to speculate should do so using options.
Cramer also said he believes
will probably have a good quarter but he cautions that "madams tend to have better information." A woman accused of running a Beltway prostitution ring asked a judge Monday to unfreeze her brokerage account so she could sell Dolby, which she believes has peaked, Reuters reported.
"She can drill down, so to speak," Cramer said. "She can see things I can't see."
At the time of publication, Cramer had no positions in stocks mentioned.
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