On CNBC’s popular financial show, ‘Mad Money,’ Jim Cramer unleashed his lightning-round stock picks, offering insights into the market for viewers. His recommendations ranged from buy signals to cautionary tales, shedding light on the potential of various companies.
Cramer started his round by confidently declaring Broadcom Inc. (AVGO) a buy. This bullish sentiment is backed by Mizuho analyst Vijay Rakesh, who maintained an Outperform rating on the stock and raised the price target from $190 to $220 on October 14th. However, Cramer cautioned investors to steer clear of Blue Bird Corporation (BLBD), expressing concerns about its growth prospects. ‘I just don’t see the growth,’ he noted. This stance contrasts with BTIG analyst Gregory Lewis, who initiated coverage on Blue Bird with a Buy rating and set a price target of $55 on October 9th.
Cramer’s positive outlook extended to The Cigna Group (CI), giving it a resounding ‘two thumbs up.’ His enthusiasm comes after Cigna’s board declared a cash dividend of $1.40 per share of its common stock, payable on December 19th, to shareholders of record as of the close of business on December 4th.
When it came to Enphase Energy, Inc. (ENPH), Cramer acknowledged the recent stock decline, stating, ‘It’s just been clobbered already.’ He advised against selling the stock entirely, urging investors to hold on. This advice follows Enphase Energy’s third-quarter earnings report, which fell short of analyst expectations. The company reported revenue of $380.9 million, missing the consensus estimate of $391.979 million, and adjusted earnings of 65 cents per share, short of the projected 77 cents per share.
Cramer’s ‘Mad Money’ session concluded with a warning against ZIM Integrated Shipping Services Ltd. (ZIM). He recommended staying away from the company, despite Barclays analyst Alexia Dogani maintaining an Underweight rating and raising the price target from $12.30 to $13.90 on Wednesday.
In the market’s reaction to these insights, Enphase Energy shares gained 3.4% to close at $81.10 on Thursday. Cigna shares edged up by 0.2% to close at $318.24. Zim Integrated Shipping shares rose 0.9% to settle at $22.66 during the session. Broadcom shares, however, fell 1.2% to close at $171.35 on Thursday. Blue Bird shares concluded the day down by 1.7% at $41.16.