In this article, we discuss 10 Jim Cramer stock picks this week. If you want to see more stocks in this selection, check out 5 Jim Cramer Stock Picks this Week.
Jim Cramer is not your typical stock commentator. But one of the most revered in the business, always ready to call it as it is with bold and insightful recommendations on winners and losers in the market. The Mad Money hosts always talk big, reminding investors to invest in companies before the stocks make big moves.
Most of Cramer’s stock picks are doing well, which explains his huge following in an era where investors can get such insights and recommendations elsewhere. For instance, the ETF that goes long, Cramer’s Mad Money recommendation Long Cramer ETF (CBOE:LJIM), is already up by about 16% over the past two months. On the other hand, the much more popular Inverse Cramer (ETF SJIM) is underperforming and down by about 7% since May 31, 2023.
Long Cramer ETF is up by more than 8% since inception signaling that there is always a high probability of making money by sticking with Cramer’s top stock picks. The ETF has mostly benefited from Cramer’s bets on artificial intelligence plays. NVIDIA Corp (NASDAQ:NVDA) and Advanced Micro Devices, Inc. (NASDAQ:AMD) are some of the top picks that continue to outperform.
The investment strategy is to buy stocks when Jim Cramer says to buy and sell stocks when he says to sell. Whenever the king of daytime cable investing news feels a stock has fallen out of favor; he is always ready to clip it from the ETF.
Cramer also makes big recommendations every week, providing insights on stocks likely to outperform and those that investors should avoid depending on prevailing Macroeconomic conditions. The recommendations provide an easy way of getting into a wave just starting.
Eli Lilly And Co (NYSE:LLY) is one of the companies that analysts have been paying close watch on as it continues to make favorable strides in the development of its pipeline, including diabetes and weight loss drug Mounjaro.
Timing is also an important aspect of Cramer’s investing strategy, as he is always ready to warn investors against buying stock whenever it makes a significant move.
“My goal is to get you to stop chasing stocks what’ve had huge runs,” Cramer said. “Because when they inevitably get hit, there’s a very good chance you’ll feel like the whole game is rigged, and you’ll give up on the entire asset class of stocks, and that is the worst mistake you can make.”
Celsius Holdings, Inc. (NASDAQ:CELH) is another stock that the CNBC commentator has been eyeing for quite some time. However, with the stock jumping by more than 20% over the past few days, waiting for a pullback is the right call. Marvell Technology Inc. (NASDAQ:MRVL) is another stock that CNBC commented on or could offer an ideal entry point on pullback.
Some of the stocks Cramer believes investors should go by the prevailing conditions include RingCentral, Inc. (NYSE:RNG) as it is crowded and commoditized. He is also skeptical about Chinese stocks, including NetEase, Inc. (NASDAQ:NTES), but bullish on Alibaba Group Holding Limited (NYSE:BABA).
Our Methodology
Diversifying an investment portfolio is one of the best ways of gaining exposure to various market segments affected by various factors. Likewise, Cramer’s stock picks transcend various sectors offering one of the best ways of investing in high growth areas. We have compiled a list of stocks that Cramer believes could outperform heading into year-end. We have ranked the stocks based on analysts’ estimates and upside potential.
Jim Cramer Stock Picks this Week
10. Becton, Dickinson and Company (NYSE:BDX)
Upside Potential: 7.93%
Price target: $304.70
Becton, Dickinson and Company (NYSE:BDX) develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products for healthcare institutions. The stock is up by about 9% year to date, and Cramer believes it is one of the well-run companies with tremendous potential for the upside.
Last month Becton, Dickinson and Company (NYSE:BDX) received a boost from the FDA approving its new BD Alaris Infusion set with enhanced cyber security. It is a major milestone, given that the previous version had several recalls.
Becton, Dickinson and Company (NYSE:BDX) also raised its full-year profit forecast to between $12.10 and $12.32 from an initial target of between $12.07 and $12.32, signaling it is in the [ashes of robust growth. The average price target is $304.70, implying a 7.93% upside potential.
9. CAVA Group, Inc. (NYSE:CAVA)
Upside Potential: 9%
Price target: $50
CAVA Group, Inc. (NYSE:CAVA) owns and operates a chain of Mediterranean restaurants offering salads, dips, spreads, toppings, and dressings. While the stock is down by about 15% from its all-time highs, it is still up by more than 25%, outperforming the S&P 500, which is up by about 18%
The impressive run comes on investors seeing some parallels between the stock and Chipotle Mexican Grill. In contrast, CAVA Group, Inc. (NYSE:CAVA) has strong average unit volumes at $2.3 billion and solid restaurant-level profit margins that show its profitability could expand.
” CAVA Group, Inc. (NYSE:CAVA) is love, and the stock can go to 60, Cramer said.
With a high price target of $50, the stock could rally by about 9% from current levels.
8. General Dynamics Corporation (NYSE:GD)
Upside Potential: 15.47%
Price target: $262.10
General Dynamics Corporation (NYSE:GD) is one of the biggest aerospace and Defense Companies that produces and sells business jets while also offering aircraft, maintenance, and repair management. While the stock is down by about 7% year to date, Cramer believes it is a solid buy at current levels, considering it has started rallying.
“I think General Dynamics Corporation (NYSE:GD) is a buy and I have to tell you, think the CEO is terrific. It is at the right level 2.3% dividend. and I got to tell you, a chart that is next to Boston properties is one of the best,” Cramer said.
Analysts on Wall Street have a $262.10 price target on General Dynamics Corporation (NYSE:GD) suggesting the stock could rally 15.47% from current levels.
7. General Electric Company (NYSE:GE)
Upside Potential: 10.55%
Price target: $126.69
General Electric Company (NYSE:GE) is a high-tech industrial company that offers gas and steam turbine upgrade and service solutions. The stock has been on an impressive run in 2023, rallying by more than 70%. The company delivered an impressive second quarter with double-digit growth in orders revenue and operating profit. Services and robust market demand across all verticals drove the impressive results. The Aerospace business remains a strong point in booking record orders.
According to Cramer, General Electric Company (NYSE:GE) is sensational, and CEO Lawrence Culp has done an incredible job. Likewise, analysts on Wall Street are bullish, with a $126.69 average price target implying a 10.55% upside potential from current levels.
6. Oracle Corporation (NYSE:ORCL)
Upside Potential: 14.43%
Price target: $129.37
Oracle Corporation (NYSE:ORCL) has made a name for itself in developing and offering products and services that address the enterprise information technology environment. The stock has pulled back significantly ever since it delivered impressive results and surged to record highs of $127 a share.
Amid the recent pullback, Cramer believes the stock is a worthy buy at current levels. Oracle Corporation (NYSE:ORCL)’s long-term prospects and growth metrics have been accelerated by the craze around generative AI that can craft images or text from few words of human input. The company is a big investor in Cohere, a generative AI that can power copywriting search den summarization.
Analysts on Wall Street have an average price target of $129.37 a share, suggesting Oracle Corporation (NYSE:ORCL) could rally 14.43% from current levels.
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Disclosure: None. 10 Jim Cramer Stock Picks this Week is originally published on Insider Monkey.