On CNBC’s ‘Mad Money Lightning Round,’ Jim Cramer shared his investment recommendations for several companies.
Cramer advised viewers to buy more shares of Micron Technology (MU), believing the stock could decline further to the $98-$99 range. However, Susquehanna analyst Mehdi Hosseini maintained a Positive rating for Micron, albeit lowering the price target from $185 to $175.
Cramer expressed his fondness for Crane Company (CR), calling it a well-managed company that has successfully pivoted away from metal-bending. Crane reported better-than-expected second-quarter financial results on July 29.
For Iron Mountain Incorporated (IRM), Cramer suggested selling some shares and letting the remaining ones run. The company delivered better-than-expected second-quarter earnings and issued positive FY24 AFFO guidance on August 1, while also increasing its quarterly dividend.
Cramer described L3Harris Technologies, Inc. (LHX) as “terrific,” but RBC Capital analyst Ken Herbert downgraded the stock to Sector Perform from Outperform on August 14, lowering the price target from $250 to $240.
On Devon Energy (DVN), Cramer recommended owning the stock but cautioned against getting overly excited. The company reported better-than-expected quarterly earnings and revenue on August 6.
Comparing Intel (INTC) to AMD (AMD), Cramer stated his preference for Arm Holdings (ARM). Intel reported disappointing quarterly earnings on August 1, missing analyst estimates, and announced a $10 billion cost-reduction plan.
In terms of price action, Micron shares dropped 3.8% on Thursday, closing at $104.26. Crane shares fell slightly by 0.02%, ending the day at $150.84. Intel experienced a larger decline of 6.1%, closing at $20.10. Iron Mountain shares gained 0.6%, settling at $112.78. L3Harris shares rose 0.5%, closing at $231.21. Lastly, Devon shares fell 0.4%, closing at $43.67 on Thursday.
