Jim Cramer Says WESCO International Is A Buy, Recommends Buying This Stock Under $20
Portfolio Pulse from Avi Kapoor
Jim Cramer recommended buying Medtronic (MDT), Riley Exploration Permian (REPX), and WESCO International (WCC) on CNBC's 'Mad Money Lightning Round.' Medtronic's Evolut FX+ TAVR system received FDA approval, Riley Permian announced a public offering, and Wesco completed a sale of its Wesco Integrated Supply business. Cramer also mentioned buying Cleveland-Cliffs (CLF) under $20, despite Wolfe Research's downgrade.
April 10, 2024 | 1:18 pm
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POSITIVE IMPACT
Medtronic's FDA approval for its Evolut FX+ TAVR system could boost investor confidence, potentially impacting its stock positively.
FDA approvals are significant milestones for medical device companies, often leading to increased investor confidence and potential stock price increases.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
WESCO's completion of its Wesco Integrated Supply business sale for $350 million could be viewed positively, signaling strategic business optimization.
The sale of non-core businesses can be seen as a positive move for streamlining operations and focusing on core competencies, potentially boosting stock prices.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 75
NEUTRAL IMPACT
Cleveland-Cliffs' downgrade by Wolfe Research might pressure the stock, but Cramer's buy recommendation under $20 suggests potential undervaluation.
Analyst downgrades can negatively impact stock prices, but Cramer's recommendation indicates a belief in the stock's potential undervaluation and recovery prospects.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 65
NEUTRAL IMPACT
Riley Exploration Permian's public offering announcement might cause short-term stock price volatility, but its perceived undervaluation could attract buyers.
Public offerings can lead to short-term price volatility. However, Cramer's positive outlook and the stock's perceived undervaluation could mitigate negative impacts.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70