NEW YORK (TheStreet) -- TheStreet's Jim Cramer says Walgreen (WAG) is a shocker because of all the companies doing inversions by moving their headquarters overseas, this company actually could have done it.
Cramer thinks Walgreen passed muster because it is buying Alliance Boots, a foreign company. That aside, Cramer says poor guidance is controlling Walgreen. He calls the guidance conservative and believes the drugstore chain is low-balling.
Cramer says he wants to buy Walgreen. He compares this stock to Time Warner (TWX) because it has a lot of bad holders, including some jaded hedge funds. Cramer says they all have to leave and Cramer advises investors not to take them out of their positions. He suggests investors let Walgreen settle down for three days and then buy it.
TheStreet Ratings team agrees, as it rates Walgreen a "buy" with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate WALGREEN CO (WAG) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow."