5 Jim Cramer Stock Picks this Week

In this article, we discuss 5 Jim Cramer stock picks this week. If you want to see more stocks in this selection, check out 11 Jim Cramer Stock Picks This Week.

5. Nucor Corporation (NYSE:NUE)

Upside Potential: 14%
Price target: $195

According to Cramer, Nucor Corporation (NYSE:NUE) is a buy for anyone looking to gain exposure to manufacturing and steel. The company produces sheet steel products and has been in a fine form amid accelerated industrial activities. The stock is up by more than 30%, outperforming the S&P 500, that’s up by about 18%

While Cramer is also bullish on Cleveland-Cliffs Inc. (NYSE:CLF), he believes Nucor Corporation (NYSE:NUE) is a better option. The stock has a high price target of $195, implying a 14% upside potential.

4. PacWest Bancorp (NASDAQ:PACW)

Upside Potential: 26.42%
Price target: $11.39

PacWest Bancorp (NASDAQ:PACW) is one of the stocks that was hit hard at the height of the banking crisis at the start of the year. However, the bank holding company appears to have found its foot, and Cramer believes it is a worthy play for the long term.

The bank is currently discussing merging with the Bank of California in an all-stock merger. The combined bank will have the strength and market position to support the banking needs of small and medium-sized businesses. PacWest Bancorp (NASDAQ:PACW) has the potential to rally 26% vroom current levels given its $11.39 average price target on Wall Street.

3. Endava plc (NYSE:DAVA)

Upside Potential: 44.40%
Price target: $70.57

Endava plc (NYSE:DAVA) is another high-profile stock that Cramer recommends as it is poised to benefit from the AI boom. The consulting company, which helps businesses modernize their technology, has been growing at an impressive rate over the last several years and is already making money.

Over the past few years, Endava plc (NYSE:DAVA)’s revenue has grown at a compound annual growth rate of 32%. The company is also growing its customer base at a rapid pace, with 155 clients bringing in over 1 million pounds in revenues. With an average price target of $70.57, the stock could rally 44% from current levels.

2. Biohaven Ltd. (NYSE:BHVN)

Upside Potential: 46%
Price target: $28

Biohaven Ltd. (NYSE:BHVN) is one stock Cramer believes has significant upside potential despite the company suffering major setbacks. The US Food and Drug Administration did not approve the company’s Troriluzole candidate drug for treating an Ultra rare neurodegenerative disorder on failing to meet its primary endpoint.

While Biohaven Ltd. (NYSE:BHVN) has pulled back nearly 20% from its 2023 highs, Cramer remains confident about its long-term prospects. He is especially confident about its Nurtec drug, a medication for migraine. The average consensus price target on the stock is $28, implying a 46% upside potential.

1. SoFi Technologies, Inc. (NASDAQ:SOFI)

Upside Potential: 57%
Price target: $16

SoFi Technologies, Inc. (NASDAQ:SOFI)’s fortunes and sentiments have improved significantly amid news that federal student loan repayments will resume in the fall as a moratorium that started during the COVID-19 pandemic ends.

According to Cramer, given the improving underlying fundamentals, the stock has what it takes to continue climbing.

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