On tonights MAD MONEY on CNBC, Jim Cramer says that you should buy a really bad name: Charter Communication (CHTR). He says it is a dog, and he has said it is a dog many times before. It has so much debt that it is choking on it, but now it can actually refinance the mountain of debt.
CHTR closed at $3.10, but it gapped up to $3.33 after Cramer touted it. Its year range is $0.88 to $3.58. Shares are up about 20% in the last 3 months. Cramer says the debt issues are trading at higher levels than they have seen in years, and he says that is a great sign. This paydown of debt may be enough to save them according to Cramer.
5 analysts are against it and 5 are holds, so he thinks they’ll start to upgrade the stock. If the businesses were running bad then he’d say no way, but their Triple Play package is helping the stock play catch-up to the rest of the cable names like Comcast and Time Warner. Cramer did say Level 3 (LVLT) has ramped up big since he made the same sort of call on it, but he thinks LVLT is in later innings compared to the run here.
Jon C. Ogg
February 22, 2007
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