On CNBC's "Cramer's Stop Trading" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said the downgrade will have a short-term negative impact on the stock.
Turning to Anadarko Petroleum (APC), an Action Alerts PLUS holding, Credit Suisse boosted its price target on the stock to $134 from $122 a day ahead of its scheduled earnings release.
The stock has a lot of ways to create shareholder value, including through M&A and consolidation, Cramer said. However, shareholders should own Anadarko Petroleum because "it's an inexpensive stock."
-- Written by Bret Kenwell in Petoskey, Mich.