Jim Cramer Says to Pick Up Shares of Deere for an ‘Absurd' Bargain

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Jim Cramer Says to Pick Up Shares of Deere for an ‘Absurd' Bargain
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“You’ve got my blessing to buy it tomorrow morning,” the “Mad Money” host said.

Shares of Deere tanked 14% after the equipment maker missed Wall Street expectations on revenue but beat on profit in its latest quarter. However, the stock bounced during last week's marketwide rally.

Cramer said that he believes the stock fell because investors were expecting a blowout quarter due to the current bull market in agriculture, and dumped the stock after Deere reported quarterly results that left more to be desired. The company's guidance also left investors unenthusiastic, Cramer said, adding that the stock rallied after Deere had its analyst day and investors reassessed the company's latest quarter.

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