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Jim Cramer Says He Will Pay No Amount For This Energy Stock, Calls Ferguson A 'Very, Very Good' Company

Author: Avi Kapoor | July 09, 2024 08:37am

On CNBC's “Mad Money Lightning Round,” Jim Cramer said Ferguson plc (NYSE:FERG) is a “very, very good” company. However, he recommends Trane Technologies plc (NYSE:TT) or Carrier Global Corporation (NYSE:CARR) ‘in case you want HVAC (heating, ventilating, and air conditioning).’

On June 4, Ferguson reported third-quarter net sales of $7.308 billion. That’s 2.4% higher year over year, driven by volume improvement despite continued deflation of approximately 2%.

KKR & Co. Inc. (NYSE:KKR) is the “foremost, the other one that I would recommend is Blackstone (NYSE:BX),” Cramer said.

On July 8, TD Cowen analyst Bill Katz maintained KKR with a Buy and lowered the price target from $157 to $145.

The “Mad Money” host said he will pay no amount for Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR).

On June 27, B of A Securities analyst Caio Ribeiro upgraded Petrobras Brasileiro from Neutral to Buy and raised the price target from $16.8 to $17.9.

Alliance Resource Partners, L.P. (NASDAQ:ARLP) has had a very big run, he said. “I know the yield looks great — I think you're peaking on a coal cycle here, I'm not going to get in front of a peak of a coal cycle.”

On May 29, Alliance Resource Partners announced the pricing of $400 million private offering of senior notes.

Cramer recommended to hold Alibaba Group Holding Limited (NYSE:BABA) here.

Alibaba Group and SenseTime highlighted significant progress in artificial intelligence at the World Artificial Intelligence Conference (WAIC) in Shanghai, signaling intense competition in China's AI market.

Price Action:

  • KKR shares fell 2% to settle at $105.07 on Monday.
  • Ferguson shares fell 0.1% to close at $190.66 during Monday's session.
  • Petroleo Brasileiro shares gained 2.7% to close at $15.13.
  • Alliance Resource Partners shares fell 2.4% to close at $24.67 on Monday.
  • Alibaba shares fell 1.4% to close at $73.50 on Monday.

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Posted In: ARLP BABA BX CARR FERG KKR PBR TT

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