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Jim Cramer discussed his favorite 4 stock ideas from the Delivering Alpha Conference last month in New York. The annual event is a gathering of the most high-profile hedge fund managers and analysts in the financial world, and stock picks generated from the conference often yield substantial gains, especially from fund managers Leon Cooperman of Omega Advisors, Michael Novogratz of Fortress and Larry Robbins of Glenview. Cramer made these recommendations prior to his words of caution about the market-wide sell-off at the end of last week. Therefore, these stocks might be worth keeping on the radar until there is a green signal to buy.
Supervalu is in the highly competitive supermarket industry, but it is diversified into many segments, including wholesale, and it can easily spin off some of its divisions. Cooperman gave an estimate of $11 for Supervalu, up from about $9, but Cramer thinks this estimate is conservative, especially given its new management.
Atlas Energy is a master-limited partnership which is a buy mainly because of its ability to raise its distribution dramatically. Analysts believe it can up its payout by 24% for the next few years. Cramer also thinks it could be taken over by a larger operation.
Citigroup is possibly worth buying simply because it is hard to see how the troubled bank can get any worse, given its slow recovery after the financial crisis. Both Cooperman and Cramer agree that better times are ahead for Citigroup, which is making efficient cost-cuts and may be allowed to return cash to shareholders.
Finally, Gaming and Leisure Properties is on Cooperman’s list because of its profitable business model which involves leasing space to casinos. Prospects are bright for the company, whose management is planning acquisitions and a dividend increase.
