Cramer Calls First Solar (FSLR) His Top Pick if Obama Wins

Turning his attention to the US Presidential election, Jim Cramer used last night's episode of Mad Money to highlight stocks that will likely outperform based on who wins the race today.

Cramer began by pointing out that renewable energy companies will do better under an Obama administration, as he has pledged as much as $150 billion over the next 10 years toward this area. Cramer's top pick that will benefit if Obama is elected this week: First Solar (Nasdaq: FSLR), a popular solar stock which has fallen recently amid declining oil prices.

Since reporting solid Q3 earnings after the close on Wednesday of last week (Oct. 29), shares of First Solar have surged, moving from about $116 to over $160 at yesterday's close, gaining nearly 40% in just 3 days of trading.

The entire solar sector is higher today as Senator Barack Obama has been running ahead of John McCain in recent polls. First Solar is no exception; the stock is currently trading about 5% higher, most recently trading just over $170. Notably, shares of First Solar marked a new 52-week low at $95.32 just one day before its Q3 earnings report, meaning the stock is now off its lowest level of this year by nearly 80%.

Elsewhere in the sector: SunPower (Nasdaq: SPWRA) up 7.2%, JA Solar (Nasdaq: JASO) up 8%, Canadian Solar (Nasdaq: CSIQ) up 13%, Evergreen Solar (Nasdaq: ESLR) up 17% and LDK Solar (NYSE: LDK) is up 6%.

First Solar, Inc. designs, manufactures, and sells solar electric power modules using a proprietary thin film semiconductor technology.

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