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Jim Cramer talks about his ‘favorite stock,’ telling investors to buy some as we did last week

Robert Frost by Robert Frost
August 14, 2023
in Industries
Jim Cramer talks about his ‘favorite stock,’ telling investors to buy some as we did last week
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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 Monday’s key moments. 1. U.S. stocks rose Monday, though they’re still having a rough August. Nvidia (NVDA), which has been slumping recently, jumped about 5.5% to start the week. Morgan Stanley reiterated Nvidia as a top pick heading into earnings, which the AI chip-making powerhouse is set to deliver on Aug. 23. On Monday, Jim Cramer pointed out that Nvidia is still a “highly valued stock,” reiterating what he discussed in his Sunday column about having some patience on the Club name. 2. Club name Coterra Energy (CTRA) was upgraded to overewight (buy) at Piper Sandler, which also boosted its price target to $35 per share from $30. Jim reminded members that the Club bought more CTRA on the dip the morning following its bad quarter. Jim also talked about GE Healthcare (GEHC) and its recent slide. He said GEHC is his “favorite stock in the portfolio right now,” adding “you should buy GE Healthcare.” We did last week . 3. Morgan Stanley defends Palo Alto Networks (PANW), taking the other side of the trade. The analysts said they see a more favorable setup into Friday’s earnings and investor update, as expectations have come down as the stock has dropped recently on a competitor’s warning. Morgan Stanley also thinks Palo Alto could potentially win its largest deal ever with Defensive Department. It could be worth an estimated $150 million to $200 million over the next five years. (Jim Cramer’s Charitable Trust is long NVDA, CTRA, GEHC, PANW. 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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