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Cramer's Not Backing Down From Potash (POT)

May 19, 2008 9:32 AM EDT
Get Alerts POT Hot Sheet
Price: $20.65 --0%

Rating Summary:
    15 Buy, 11 Hold, 7 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 6 | Down: 5 | New: 9
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On Friday's Mad Money, a viewer called in during the Lightning Round asking Cramer about his favorite ag play: Potash Corp. (NYSE: POT). Cramer told the caller that Potash is more than just a renewable energy play, it is also "about getting more out of an acre of land."

Despite shares of Potash being up more than 40% year-to-date, Cramer said he is not backing down from this company as he sees even more upside from current levels. In pre-market trading, Potash stock is up about $2.00 from Friday's closing price of $207, to $209.02. Shares are likely moving on the back of rising crude oil prices this morning, but the Cramer recommendation could also be slightly boosting the stock, something that StreetInsider likes to call the 'Cramer Effect'.

Potash Corporation of Saskatchewan, Inc. engages in the production and sale of fertilizers, and related industrial and feed products in North America.

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