As happens more times than not when Cramer discusses a mid-cap stock, CRUS bounced more than 11% on Tuesday morning. Cramer did say that he believes this stock will eventually get to $20 per share, but that “home-gamers” should only buy it under $13 today. After all, if you enter a market order and get it over $13 you are missing the best reason to get in the stock in the first place: its oversold condition following the relatively unrelated European debt crisis last week.
We like CRUS to $22 near term with a year end target of $26. Market Club has a very interesting take on how this price spike and volume plays out. Get your FREE CRUS stock analysis by Clicking Here.
