Jim Cramer's Stop Trading! Seagate Ebbs

Cramer likes Penney, though.

Author:: TheStreet.com Staff
Publish date:: Apr 18, 2007 3:00 PM EDT

Seagate

"still has lower written all over it," Jim Cramer said Wednesday on

CNBC

's "Stop Trading!" segment.

Cramer said there's "no reason to buy" the disk drive company despite Wednesday's 6% selloff. He said the entire disk drive group remains a sell rather than a buy, even at reduced prices.

Cramer is more interested in

J.C. Penney

(JCP) - Get Report

, the department store chain he called a "multiyear story" off recent innovations such as the Sephora cosmetics contract and a private label deal with

Polo Ralph Lauren

(RL) - Get Report

. Cramer said Penney and

Kohl's

(KSS) - Get Report

do a good job of making shoppers "feel they're richer than they are," and as a result he's inclined to give Penney "the benefit of the doubt" in spite of concerns about its quarter. He sees the stock at $85, up from a recent $81.50, next month.

Cramer also likes

United Technologies

, which he said should go to $70 off its strong earnings power from a recent $66.

At the time of publication, Cramer had no position in stocks mentioned.

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