Cramer Drinks Up Diageo plc (DEO)
January 24, 2007 by Douglas A. McIntyreCramer tonight on MAD MONEY on CNBC went over his favorite foreign stocks to the foreign legion for US investors. Previously this week he added CVRD (RIO), NTL Inc (NTLI), and Bank of Nova Scotia (BNS).
His #2 foreign pick is Diageo (DEO-NYSE/ADR), the spirits maker based in England. He reminds that he owns it in his Action Alerts charitable trust. He has been behind the stock since $62.90 and it has a 3.7% dividend. This is more of a defensive play, and he notes that people won’t stop drinking on a bad economy and may even drink more. Cramer said it’s the best liquor company in the world, has great exposure to emerging markets and it can deliver on its business plan. It has 7 consecutive growth months in the US and owns a big stake in the Moet Hennessey empire.
DEO closed up 0.7% at $78.90 but shares went up another 0.7% to $79.50 after he talked this one up. Keep in mind he has been very positive on this and already owns it outright.
Jon C. Ogg
January 24, 2007
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