Jim Cramer Likes MO And Thinks JWN Is Expensive
CNBC's Mad Money Jim Cramer read an WSJ article that claims that number of people who are smoking in U.S. is growing. For that reason he thinks that Altria Group's (NYSE: MO) multiple should be higher as its market is growing. Erin Burnett added that it doesn't make sense that number of smokers is going up, with all the taxes and the knowledge that it kills you. Cramer agreed, but he still recommended Altria Group (MO) as a buy. MO gained 1.26% today and closed at $19.26.
Cramer also said that Nordstrom Inc. (NYSE: JWN) is expensive. The company had an earnings report that was not bad and he thinks that if everything goes well with its business you are still paying 19 to 20 times earnings for a decent retailer. Cramer added that he recommended this stock in the past, but never thought it is going to shoot the lights out. Nordstrom Inc. (JWN) dropped 1.51% today.
