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Jim Cramer is encouraged by updates on 3 stocks that indicate further upside ahead

Robert Frost by Robert Frost
November 5, 2024
in Industries
Jim Cramer is encouraged by updates on 3 stocks that indicate further upside ahead
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Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. 1. Wall Street was rallying Tuesday as voters headed to the polls on Election Day. The Nasdaq was leading the charge, up 1.3%. The S & P 500 was up roughly 1%. Jim Cramer called this a “relief rally” in anticipation of the U.S. election being over. A bright spot in the portfolio is DuPont , which rose more than 6% on Tuesday after the conglomerate delivered an earnings beat before the open. Even with Tuesday’s move, the stock hasn’t performed as well as we hoped this year, but we expect that its looming breaking up into three separate companies will help DuPont get the respect it deserves from investors. Check your emails and text later for our full DuPont earnings analysis. 2. Shares of Eaton rose more than 1% higher Tuesday after Bernstein initiated coverage on the Club stock with a buy-equivalent outperform rating and a price target of $382. That PT implies 13% upside from Monday’s close. The analysts said electricity demand is entering an era of secular growth driven by electrical infrastructure investments over the coming years. Jim agreed that Eaton shares are positioned to go higher given the company’s business is all about electric equipment and power management systems. We trimmed our Eaton position on Oct. 29, before the company reported earnings on Oct. 31, to lock in gains after the stock’s huge run. 3. Coterra Energy CEO Tom Jorden appeared on “Mad Money” and cleared up a comment he made on the company’s third-quarter earnings call last week. During the call, Jorden talked about hypothetical situations that could lead the company to “stretch” on M & A, and the stock took a hit. Jorden told Jim on Monday evening that he regretted the statement, saying Coterra is not considering a big acquisition that could stretch its balance sheet. “I felt very good about the stock after the interview,” Jim said on Tuesday’s Morning Meeting, adding he might be inclined to build a bigger position oil and natural gas producer in the event of a Donald Trump victory. 4. Stocks covered in Tuesday’s rapid fire at the end of the video were: Carvana , NXP Semiconductors , Yum! Brands , Palantir , and Dollar Tree . (Jim Cramer’s Charitable Trust is long DD, ETN, CTRA. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.



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Robert Frost

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