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Sometimes going head-to-head with analysts can be lucrative, Jim Cramer told viewers of his "Mad Money" TV show Thursday.

Cramer still likes

Under Armour

(UA) - Get Report

after UBS "unbelievably" downgraded the stock today, lowering its estimates from $72 to $68 a share.

Cramer believes Under Armour CEO Kevin Plank knows more than UBS, and Plank didn't exhibit a single sign that business had slowed. UBS' downgrading of Under Armour reminded Cramer of efforts to call a top on

Crocs

(CROX) - Get Report

, which turned out to be wrong.

The UBS analysts' conclusions are based on "flawed methodology," Cramer said. Their assessment is based on extrapolation and anecdotal evidence from visits to sporting goods stores. Cramer acknowledged that Under Armour has been hurt by unseasonably warm weather, and that the stock "isn't blowing the lights out so far this quarter."

Nevertheless, for the stock to tumble from $78 a share to $58 because of a rumor of slower sales is excessive. When the weather does cool down this season, sales should pick up.

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To short Under Armour is to bet that the weather will not turn cold this year and that the revamping that Plank was talking about won't work. "The downgrade is just plain wrong," Cramer said. He urged viewers stay with Under Armour.

Hological

Cramer urged viewers to get in early on a merger deal between

Hologic

(HOLX) - Get Report

which he owns for his charitable trust,

Action Alerts PLUS, and

Cytec

(CYT)

.

Cramer believes that Hologic is the "greatest women's health care company on earth," and that the synergy yielded by this merger will net great gains for investors. The products sold by the two companies taken together will cater to women of all ages. Additionally, Hologic and Cytec will benefit from shrinking their back offices and consolidating their manufacturing.

Hologic is expected to grow 25% over the next several years. Cramer believes that synergies between Hologic and Cytec are greater than that. When the deal closes, analysts will raise their estimates, and the price of the stock will increase, he said. For those reasons, it is important to get into Hologic before the deal closes, to avoid paying too high a price, Cramer said.

'Sell Block'

During the "Sell Block" section of the show, Cramer urged viewers to sell

Savient

(SVNT)

. Although it was one of Cramer's best speculative stocks of the year, and its new drug Puricase ought to bring in revenue, the stock's price likely already reflects that.

Cramer also urged viewers to move away from

Chattem

( CHTT). The stock has jumped 100% since Cramer recommended it, and it would be greedy to stay with it much longer.

Investors should also take partial profits on

Google

(GOOG) - Get Report

,

Research In Motion

( RIMM),

Apple

(AAPL) - Get Report

and

Amazon

(AMZN) - Get Report

.

Dismounting the Four Horsemen

This advice might surprise some viewers who watched Cramer tell investors to buy his "four horsemen" of tech earlier this week. Cramer explained that institutional buyers have artificially raised prices by buying shares of the stocks in high volume. This technique is deplorable, Cramer said, but hedge fund brokers do it when they are behind on a hot stock, and Cramer believes that is what happened with the four horsemen.

When the third quarter ends Friday, the artificial rise in these four stocks will disappear. Although Cramer still believes his four horsemen will rebound, he urged viewers to sell in the short term and remain in the stock for the intermediate term. "Take a little off the table in case they get hit at the end of the quarter," Cramer said.

Peet Gathering No Moss

Cramer welcomed Patrick O'Dea, CEO of

Peet's Coffee and Tea

( PEET), to the show to ask him about a recent report that indicated

Starbucks

(SBUX) - Get Report

might be in for a downturn.

O'Dea said that Peet's Coffee differs from Starbucks in that it is a smaller company that focuses more heavily on coffee itself than on customers' experience in the store. He said Peet's is growing 20% annually.

People who sell Peet's based on the Starbucks report are foolish, Cramer said, adding that investors should stick with Peet's.

Lightning Round

Cramer was bullish on

Amazon

(AMZN) - Get Report

,

AK Steel

(AKS) - Get Report

,

Reliance Steel

(RS) - Get Report

,

Vulcan Materials

(VMC) - Get Report

,

DynCorp

(DCP) - Get Report

,

Celgene

(CELG) - Get Report

,

Transocean

(RIG) - Get Report

,

Global Santa Fe

(GSF)

,

Schlumberger

(SLB) - Get Report

,

Gardner Denver

(GDI) - Get Report

,

Cramer was bearish on

China Precision

(CPSL)

,

Heelys

( HLYS),

Alcan

(AL) - Get Report

,

Target

(TGT) - Get Report

,

Texas Industries

(TXI)

,

China BAK Battery

(CBAK)

,

Bare Escentuals

( BARE),

Avon Products

(AVP) - Get Report

,

International Flavors & Fragrances

(IFF) - Get Report

,

United Parcel Service

(UPS) - Get Report

,

FedEx

(FDX) - Get Report

,

Hansen Medical

(HNSN)

,

J.C. Penney

(JCP) - Get Report

,

Kohl's

(KSS) - Get Report

,

Hercules Offshore

(HERO)

and

Vanda Pharmaceuticals

(VNDA) - Get Report

.

Want more Cramer? Check out Jim's rules and commandments for investing from his latest book by

clicking here

.

For more of Cramer's insights during the Lightning Round, click here

.

At the time of publication, Cramer was long Hologic and Transcocean.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

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Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.