When asked whether the political and environmental worlds would support that growth, Monaco noted that people today just want projects done right, and Enbridge is willing to work with the government, no matter who is president, to get the job done. Turning to his company's growth target of 12% a year, Monaco said Enbridge currently has $18 billion worth of secured projects ready to go which would account for growth of 10% a year. By adding on just a few of the company's other potential projects, Monaco said that Enbridge could definitely hit its 12% target. Circling back to hiring and jobs, Monaco said Enbridge has already hired 2,500 new employees this year and will need to hire tens of thousands more to complete all of the projects currently under development. Cramer called Enbridge's presentation at its analyst day "brilliant" and said he still likes the stock.
Siding With the Bulls
When analysts disagree, investors win. That's why Cramer endorsed buying shares of Alliant Tech ( ATK), a defense company that received both an upgrade and a downgrade from competing firms on Monday. Cramer noted analysts at Jeffries downgraded Alliant Tech from a buy to a hold, citing worries about the company's aerospace division ahead of the looming economic "fiscal cliff" that could take a chunk out of defense spending. The firm also cited the declining war in Afghanistan as a drag on the company's earnings. Meanwhile, analysts at Cowen noted that after winning a major federal contract for ammunition, Alliant Tech could outperform the market by 20% over the next six months. So who's right? Cramer said while he understands the bear case, he's siding with the bulls because most of the worries about Alliant Tech are already baked into the stock, which currently trades for only 7.6 times next year's earnings. Additionally, Cramer said that Alliant's stock buyback program, valued at $175 million or 10% of outstanding shares, would also be a boon for shareholders.
Here's what Cramer had to say about callers' stocks during the "Lightning Round":