Jim Cramer Says Buy Uber, Calls Rockwell Automation 'One Ugly Chart' but a 'Great Long-Term Situation'
Uber Technologies,Inc. UBER | 0.00 | |
Rockwell Automation, Inc. ROK | 0.00 | |
Tanger Inc. SKT | 0.00 | |
Neurocrine Biosciences, Inc. NBIX | 0.00 | |
AMCOR PLC AMCR | 0.00 |
On CNBC’s “Mad Money Lightning Round,” Jim Cramer recommended buying Uber Technologies, Inc. (NYSE:UBER), adding that it is one “great long-term” stock.
According to recent news, Uber and drone delivery company Zipline announced a strategic partnership on Monday to expand autonomous delivery across the U.S.
Cramer recommended buying Tanger Inc. (NYSE:SKT), saying it is good. “I saw a recommendation today of taking a price target from $45 to $46 for this $38 stock. It yields 3.25%,” he added.
Lending support to his choice, Tanger, on Aug. 4, posted better-than-expected second-quarter results.
Rockwell Automation, Inc. (NYSE:ROK) is “high, but it’s more robotics than it is data center, and I think it’s a great long-term situation. So, I would say it’s a good idea, but don’t buy it all at once because the stock is one ugly chart,” Cramer said.
The company, on Aug. 4, reported third-quarter adjusted earnings of $3.49 per share, up 22% from a year earlier and above the analyst consensus estimate of $3.38. Revenue increased 8% year over year to $2.313 billion, beating estimates of $2.243 billion.
When asked about Amcor plc (NYSE:AMCR), he said, “I’m never going to fight anyone on 10 times earnings. But remember, they also have a kind of a non-fast-growing part of their business, and therefore there are issues, but not a lot that can’t be solved by that low PE.”
On the earnings front, Amcor posted better-than-expected earnings for the fourth quarter on Aug. 12.
Cramer said Neurocrine Biosciences, Inc. (NASDAQ:NBIX) is fine because it’s profitable. “Although I know that neurological issues are very hard, very tough. Most doctors, hospitals, medical companies don’t want to touch it, but I will say Neurocrine does good job,” he added.
Morgan Stanley analyst Jeffrey Hung, on Aug. 13, maintained an Equal-Weight rating on Neurocrine Biosciences and lowered the price target from $196 to $182.
Price Action:
- Uber shares fell 1.3% to settle at $74.99 on Monday.
- Tanger shares slipped 0.1% to close at $38.41 during the session.
- Rockwell Automation fell 0.8% to settle at $444.60 on Monday.
- Neurocrine Biosciences shares gained 1.2% to close at $154.49.
- Amcor shares fell 1.1% to settle at $45.53 on Monday.
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