Investing
Cramer Thumbs Down on Pepsi (PEP); Positive on NYMEX IPO Again
Published:
On today’s STOP TRADING segment on CNBC, Jim Cramer started on the snack topic.Cramer said he is still anti-Pepsi (PEP) because of the snackfood business. Cramer said that Pepsi did address his comments, but the fat wars will clip their wings. Cramer said it is too little too late. He thinsk Pepsi (PEP) could fall to $55 (from $61.80 now). He said they aren’t sitting still, but their 20-times earnings multiple could get cut down to 18-times earnings. Cramer said that from the May ramp you still don’t want to go back into it.NYMEX is going to price tonight. He said again that he would still pay up $20 for the stock after the IPO price.Jon C. OggNovember 16, 2006
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