Cramer is a Buyer of NYSE Euronext (NYX) Under $26

Following seven months of supposedly calling NYSE Euronext (NYSE: NYX) a "sell", Cramer has gone out on a limb and taken the stock off his Sell Block. On last night's Mad Money, Jim Cramer highlighted the stock, saying that NYSE Euronext has been so beaten up recently that it is now "an accidental high-yielder, offering 4.4%." Cramer believes that this alone gives investors enough of a reason to purchase the the stock.

NYSE Euronext, a stock which Cramer predicted would be one of the best stocks in 2007, is expected to earn $3.15 in cash per share, meaning its $1.22 per share dividend should be safe, according to Jim. Cramer said he would be a buyer of NYSE Euronext "in increments on any decline..."

Besides its solid dividend, Cramer also likes NYSE Euronext for its turnaround possibilities. He notes that the company's acquisitions of Euronext and more recently, Amex, are now starting to have noticeable effects on the NYSE's business model as cost savings are finally setting in. Cramer points out that NYSE Euronext has managed to increase its market share over the last two months despite controlling much lower trading volumes.

Cramer also likes NYSE Euronext stock given speculation that it could be involved in merger talks with Deutsche Bourse. Cramer noted that both stocks have "already moved" on the news, but believes that if a deal were announced, the stocks would see substantially more upside.

Bottom line: Cramer would be a buyer of NYSE Euronext under $26. At this level, Cramer said investors are getting the Euronext for free as the NYSE paid $10 billion for the exchange, but the combined companies are currently valued at just $7.3 billion.

Despite a financial sector which is nose-diving today (Financial Select Sector SPDR (NYSE: XLF) down 2.3%), shares of NYSE Euronext are bucking the trend and currently up 3% to $26.76.

NYSE Euronext, through its subsidiaries, offers various financial products and services.

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