With the Democrats in Congress, people believe that drug stocks should get hit. But one drug stock that should go
, Jim Cramer said on his
"RealMoney" radio show Monday.
"This is some company," he said. "I believe Allergan may be in the early stages of an incredible run and is finally starting to get the recognition it deserves."
Not only does the company have the "best silicon breast implants," but Cramer said it also has the "No. 1 method of getting rid of wrinkles" with Botox and Juviderm.
"It basically has a tremendous franchise for baby boomers," he went on to say. And while the stock is up $7 today, Cramer said he would still buy it as he believes that Allergan could go up another $12.
Allergan was recently trading at $119.55.
Moving on, he told listeners he believes that his holiday stock,
Research In Motion
, should continue to go higher and that buying one stock of
, which he owns for his charitable trust,
Action Alerts PLUS, down $1 to $172 today, makes sense.
Although the media and analysts will probably never apologize for keeping market players out of steel stocks with their negativity, they should, Cramer said.
The story about a glut in steel first came out in September and was started by financial services firm UBS, he said. The media picked up on it, and consequently steel stocks got "clobbered" as people sold them off.
The media didn't care about the five-to-six times earnings the group already sold for because of the "glut," Cramer said.
, which turned out to be a "huge stock" and made people who were in it a lot of money, is getting bought, and there are not that many steel companies left.
In the end, these companies should all be taken over -- except maybe
, he said.
To see the most recent edition of The RealMoney Radio Recap in its entirety, please click here. This recap is published every day around 3 p.m. ET.
At the time of publication, Cramer was long Sears.
Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, 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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