Cramer: Staples is the Only Game in Town: Compared to its competitors, Staples is the last man standing, says Cramer.
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Staples (SPLS) also seems too high to me. If you are buying Staples, it is because you think the others in the category are going under. This is not a Circuit City situation.

The office supply retail chain was among the most active names on the Nasdaq Tuesday.

They are the best office supply company in the world!

Staples (SPLS) was upgraded to Buy rating from Hold at Jefferies. Price target lifts to $28 from $21 while FY09 eps estimates hold at $1.41.

Staples, Katz argues, is the "best-in-its- class office superstore" and is navigating the economic slowdown better than Office Max (OMX) or Office Depot. The fund manager believes that Staples will earn $1.69 in 2009, versus an expected $1.52 this year. Staples is trying to buy Amsterdam-based Corporate Express. If the deal bears fruit, it would add to Staples' global reach and could help its stock, recently at 22, climb to 31 in a year, he says.

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14%

ON FEB. 18, this column said that Staples' (SPLS) probably would boost its dividend on March 4. The world's No. 1 office-supply outfit complied, hiking its quarterly to 33 cents a share from 29 cents. But whereas previous boosts had been at least 25% each year since dividends were initiated in 2004, this one was just 13.7%. The company said it became cautious after a sales slowdown that apparently bottomed out in December, followed by slight improvement in January.

The company (ticker: SPLS), which created the office superstore more than two decades ago, is No. 1 in office products around the world. It's also the top pick in that sector of Brad Thomas, Lehman Brothers' specialty-stores analyst. In a research note last Wednesday, Thomas wrote that he expects Staples will raise its annual dividend two weeks from now when it reports fourth-fiscal- quarter (ended Jan. 31) profits. The company has done just that each year by a minimum of 25% since initiating disbursements in 2004. Staples' current annual dividend is 29 cents a share.

Quoted recently at 22, the stock yields 1.33%. The 52-week high and low: 27.66 and 19.69. Staples has some $1.25 billion remaining under its stock-buyback authorization.

Cramer thought it was a good idea...pfft.