Jim Cramer Says Don't Sell Match Group: 'You've Just Got A Very, Very Smart Investor In There'

Author: Avi Kapoor | July 17, 2024 08:55am

On CNBC's “Mad Money Lightning Round,” Jim Cramer said Fortinet, Inc. (NASDAQ:FTNT) is not his favorite. He added that we own Palo Alto Networks, Inc. (NASDAQ:PANW) for the charitable trust.

On July 11, Barclays analyst Saket Kalia maintained Fortinet with an Equal-Weight and lowered the price target from $75 to $70.

When asked about Air Products and Chemicals, Inc. (NYSE:APD), Cramer said Linde plc (NASDAQ:LIN) is a “much better run company, and that's why Air Products isn't doing as well, and Linde's doing spectacularly.”

On July 16, Air Products named Eric Guter as vice president of Investor Relations effective Sept. 30 succeeding Sidd Manjeshwar.

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) is a “speculative situation where they have great science. I am never going to bet against a biotech company with great science, therefore I bless owning the stock. It's too risky for me, but it's ok if you want to be there,” he said.

On July 1, Piper Sandler analyst Biren Amin maintained Sarepta Therapeutics with an Overweight rating and maintained a $205 price target.

The “Mad Money” host recommended not selling Match Group, Inc (NASDAQ:MTCH) as “you've just got a very, very smart investor in there. You've got Starboard, there's been other activists there too… and Match has to make the changes that Starboard recommends.”

Starboard Value sent a letter to Match Group's CEO, CFO, president and board of directors outlining actionable opportunities for enhancing shareholder value. Starboard Value holds a 6.6% stake in the company, making it the third-largest shareholder.

BJ’s Wholesale Club Holdings, Inc (NYSE:BJ) is very good, Cramer said. “My problem is, why would I want the very good when I can get the best, which, of course, is Costco (NASDAQ:COST).”

On July 11, Loop Capital analyst Laura Champine maintained BJ’s Wholesale with a Hold and raised the price target from $80 to $85.

When asked about Toast, Inc. (NYSE:TOST), he said, “The problem with that is that you are investing in retail by doing that, and I do not want to be as exposed to retail right now, and so that's the only reason why I do not want to own the stock of Toast.”

Toast reported robust performance for the quarter ended March 31 on May 7.

Cramer said Teva Pharmaceutical Industries Limited (NYSE:TEVA) is ok, but he likes best of breed. i.e. Eli Lilly (NYSE:LLY).

Teva Pharmaceutical said it will release second-quarter financial results on Wednesday, July 31.

Viking Therapeutics, Inc. (NASDAQ:VKTX) is “terrific,” Cramer said. “I would put Royal Caribbean (NYSE:RCL) and Viking at the top of the heap. They are both excellent.”

On June 27, Morgan Stanley analyst Michael Ulz initiated coverage on Viking Therapeutics with an Overweight rating and announced a price target of $105.

Price Action:

• Fortinet shares fell 0.7% to settle at $59.48 on Tuesday.
• Teva shares fell 2.5% to close at $16.65 on Tuesday.
• Viking shares fell 4% to settle at $57.00 during Tuesday's session.
• BJ's Wholesale shares gained 1.4% to $91.38.
• Toast shares gained 5.3% to settle at $27.30 on Tuesday.
• Air Products shares gained 3% to close at $267.53 during Tuesday's session.
• Sarepta shares fell 2.4% to close at $148.98 on Tuesday.
• Match shares gained 7.5% to settle at $34.41 on Tuesday.

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• Top 4 Risk Off Stocks You’ll Regret Missing In July

Photo: s_bukley/Shutterstock.com

Posted In: APD BJ COST FTNT LIN LLY MTCH PANW RCL SRPT TEVA TOST VKTX