Jim Cramer Says No To This Health Care Stock, Recommends Holding On To Constellation Energy: 'It's Up A Huge Amount'

Author: Avi Kapoor | July 30, 2024 08:48am

On CNBC's “Mad Money Lightning Round,” Jim Cramer said no to Illumina, Inc. (NASDAQ:ILMN), adding that he likes Danaher Corporation (NYSE:DHR).

Illumina will issue results for the second quarter after the closing bell on Tuesday, Aug. 6.

The “Mad Money” host recommended buying some Bank of America Corporation (NYSE:BAC) stock “right here,” and buy some “in case the stock breaks 40.”

“I think this company is selling very inexpensively, and it's a good one,” he added.

On July 24, the bank's board authorized a $25 billion stock repurchase program starting Aug. 1, replacing the existing program set to expire on that date. It also raised the quarterly cash dividend to 26 cents per share, up 2 cents from the previous quarter.

Cramer said Constellation Energy Corporation (NASDAQ:CEG) is a “solar play that is a very good company. It's up a huge amount versus a lot of other stocks.” He recommends buying some, holding on to it, and not selling it.

On June 24, Morgan Stanley analyst David Arcaro maintained Constellation Energy with an Overweight rating and boosted the price target from $237 to $241.

When asked about Meta Platforms, Inc. (NASDAQ:META), he said, “I think the problem with Meta right now is it's gone up so much that people are selling Meta to buy a lot of stuff in the small, medium-sized range.”

On July 26, Needham analyst Laura Martin reiterated Meta Platforms with an Underperform rating.

ICICI Bank Limited (NYSE:IBN) is a great way to get exposure to India, Cramer said.

When asked about Organon & Co. (NYSE:OGN), he said, “Pfizer (NYSE:PFE), Organon. These are companies that are just kind of quietly going higher. And I have to admit, that one's probably not done.”

Organon will release its second-quarter financial results before the opening bell on Aug. 6.

Price Action:

• Illumina shares rose 0.9% to settle at $121.56 on Monday.
• Bank of America shares fell 1.4% to settle at $41.09.
• Constellation Energy fell 1.4% to close at $172.68 during Monday's session.
• Meta shares settled at $465.71 on Monday.
• ICICI Bank shares gained 0.1% to settle at $28.78 on Monday.
• Organon shares gained 1.3% to close at $22.48 on Monday.

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Posted In: BAC CEG DHR IBN ILMN META OGN PFE