Checking Cabela's Valuation
Ahead of the holiday season, Cramer takes a critical look at his holding and makes a trade.
I had taken Cabela's (CAB) to a Three in the Weekly Roundup a few weeks back. But with the stock trading at $23.68 a share as I write this, I now believe the retailer looks oversold. Even with the pending secondary offering, the company is just a strong holiday selling season away from being a $30 stock once again.
With that in mind, I'm going to buy 500 shares of Cabela's, which will give me a total of 4,000.
Regards,
James J. Cramer
DISCLOSURE: At the time of publication, Cramer was long Cabela's.