CNBC’s Jim Cramer on Wednesday said that Albertsons, the U.S. grocery operator making its third IPO attempt, is worth owning if investors can get the stock at the right price.
Albertsons, which owns Albertsons, Safeway, Acme and Shaw’s supermarkets in dozens of states, plans to raise up to $1.32 billion when it goes public this week. A group of stockholders is offering almost 66 million shares to the public in the $18 to $20 price range.
“I think that Albertsons could be worth owning” but should be bought at “no more than $24 to $25,” the “Mad Money” host said. “It’s definitely not best of breed, but it’s not garbage either.”
Cramer is recommending the stock after he saw the grocery…