Jim Cramer Anoints Citigroup As The Next Chrysler

The markets rose for the third consecutive day despite escalating jobless claims. The Dow Jones Industrial average gained 70.89 points to finish at 9,350. The commodities markets were subdued with gold and oil prices finishing relatively flat. Citigroup saw their stock boosted yet again by bullish comments from Jim Cramer.

Citigroup (C: 34.23 0.00%)
Jim Cramer appears to become Citigroup’s biggest fan since finally recommending the financial stock on August 6^th. Citi shares jumped 8.5% after Mr. Cramer anointed the company as the next big turnaround play similar to Chrysler in the 1980’s. Back in 1980, Chrysler was saved from going completely under by some timely government assistance. Investors who bought Chrysler shares ended up with phenomenal returns and Cramer thinks Citigroup is following the same story line and recommends buying the stock.

Wells Fargo (WFC: 30.63 0.00%)
Another financial stock that got a boost from the Cramer effect was Wells Fargo. The bank stock gained 3.3% today after Cramer said he still likes the stock.

Brandywine Realty Trust (BDN: 11.38 0.00%)
Brandywine Realty Trust gained 5.2% after Cramer interviewed CEO Jerry Sweeney on last night’s show. Mr. Sweeney argued that commercial real estate isn’t nearly as bad as the media headlines would indicate. He feels that commercial space will rebound along with the broader economy as companies look to expand once again. Mr. Cramer is bullish on the stock, because he feels it’s cheap and it has a 4% dividend yield.

Other Cramer stock picks:

Wellpoint (WLP: 64.83 0.00%) rose 1.9% and Triple-S Management (GTS: 23.73 0.00%) rose 1.0% – Cramer said that while we still don’t know much about President Obama’s healthcare plans, his reforms are not likely to impact either stock. Mr. Cramer expects both stocks to rise another 10-15%.
Walt Disney [[DIS] gained 1.6% – Cramer thinks the stock is a great play on a recovery in the advertising market and is puzzled why more investors are jumping in.
Family Dollar (FDO: 57.48 0.00%) fell 0.5% – Cramer recommends selling the stock.