Jim Cramer Likes Micron And Its CEO, Recommends Buying This Big Bank
On CNBC's “Mad Money Lightning Round,” Jim Cramer recommended buying Micron (NASDAQ:MU), adding that he likes the company and its CEO Sanjay Mehrotra.
On May 6, Baird analyst Tristan Gerra upgraded Micron from Neutral to Outperform and raised the price target from $115 to $150.
Bank of America Corporation (NASDAQ:BAC) is a buy, Cramer said.
Earlier this month, Bank of America recommended shareholders reject “mini-tender” offer by Tutanota LLC.
When asked about JFrog Ltd. (NASDAQ:FROG), he said, “I would be a seller of almost all the enterprise software companies here.”
On May 9, JFrog posted stronger-than-expected results for its first quarter. The company also said it sees FY24 adjusted earnings of 59 cents to 61 cents per share, on revenue of $425.5 million to $429.5 million.
The “Mad Money” host said he is not impressed with what Biogen (NASDAQ:BIIB) is doing.
On April 24, Biogen reported first-quarter adjusted EPS of $3.67, up 8%, beating the consensus of $3.44.
Cramer said Fidelis Insurance Holdings Limited (NYSE:FIHL) is “not a favorite.”
On May 9, Fidelis Insurance posted better-than-expected earnings for its first quarter.
Chevron Corporation (NYSE:CVX) is a buy, he said.
On May 10, Truist Securities analyst Neal Dingmann maintained Chevron with a Hold and raised the price target from $156 to $166.
Price Action:
- Biogen shares fell 0.6% to settle at $221.50 on Friday.
- Micron shares fell 4.8% to close at $6.09.
- Bank of America shares gained 0.4% to settle at $38.45.
- Fidelis Insurance shares fell 4.3% to close at $18.48 on Friday.
- JFrog shares dipped 18.7% to settle at $33.01 on Friday.
- Chevron shares gained 0.2% to close at $165.82.
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