Cramer Calls on Bank of Nova Scotia as #3 Foreign Stock

Tonight on CNBC’s MAD MONEY, Jim Cramer is adding two more favorite stocks to his favorite stocks, and he keys in on #5 and #3.  His #5 pick tonight was NTL Inc (NTLI) and last night he list CVRD (RIO) as his #4 pick.

His Third best pick is Bank of Nova Scotia (BNS-NYSE/ADR) in Canada.  He thinks Canada was way too cheap a few years ago, and it is still fairly cheap.  The growth is accelerating and it is down 10% from the high’ the dividend is over 3% and it is growing market share; it has a lower multiple than US-banks.  What Cramer really likes is that it is the lowest risk play in Latin America because it has 1/3 exposure to the Caribbean and will be the best play on Cuba when Castro croaks.  It added 100 branches in Mexico and this is a conservative way to play down South.

BNS closed at $42.93, up $0.01 on 91,400 shares today and it is usually thin volume; shares traded up 1.9% at $43.75 after Cramer called this one.

Jon C. Ogg
January 23, 2007