is a "phenomenal" diversified stock, Jim Cramer told a caller on his
"RealMoney" radio show Wednesday.
He said it has the "best business model of any media company," and a great handle on the rating of bonds. Even up to nearly $67, Cramer recommends buying it.
When a caller asked about
, Cramer said if the company is smart it will refinance its high-coupon debt and make its shareholders a lot of money.
But as much as he finds Charter interesting, he believes a better play in this area is
Level 3 Communications
Responding to another caller, Cramer said although he regards
to be a good company, he cannot recommend it because there are two stocks he believes are more worth owning.
First, there is
Johnson & Johnson
, which he owns for his charitable trust,
Action Alerts PLUS, Cramer told the caller.
He called it a "fantastic story," which has been wrongly beaten down because of bad stories about its stent business.
The other stock is
, which he also owns for his charitable trust,
Action Alerts PLUS.
He called the company's CEO Fred Hassan a "bankable guy," who is turning Schering-Plough around "brick-by-brick."
When a caller inquired about
Companhia Vale do Rio
, Cramer told people to not even think about selling this stock.
"Don't sell it here," he said. "It is too darn cheap."
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 Johnson & Johnson and Schering-Plough.
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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