Cramer Says Denny’s is a Grand Slam
November 30, 2006 by Douglas A. McIntyreOn tonight’s MAD MONEY on CNBC, Jim Cramer discussed Denny’s (DENN) as a Buy. He said it is a name you want to own. He said they have made a turn, and please note he said this earlier last week or the week before when he said it was going to $6.00. This stock closed as $4.58 today, and was up at $4.71 (almost 3%) after he began touting the stock. Cramer noted that when he brings on CEO you need to listen. Cramer had DENN’s CEO on back on the 15th and replayed it: "in the midst of refinancing debt and should get it resolved this quarter…."
Cramer said they had been selling stores topay debt but now they don’t need to sell off the other 21 stores because they are operating better. Cramer again said he thinks it is going to $6.00. The street hasn’t caught on the Refinancing angle and they are changing their model to going to more of a franchise model.
Jon C. Ogg
November 30, 2006
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