In his daily rapid-fire segment, Jim Cramer discussed several stocks outside of the CNBC Investing Club portfolio. IBM saw a 3% increase in shares after Goldman Sachs gave the stock a buy rating, highlighting IBM’s role in helping companies adapt to artificial intelligence. Carrier Global also experienced a rise in shares, up nearly 3%, following an upgrade from Citigroup to a buy rating. The upgrade emphasized Carrier’s transition to an all-HVAC company by 2025, despite recent weakness due to an acquisition.
Target’s shares rose 2.5% after announcing a partnership with Shopify’s commerce platform for its third-party marketplace, Target Plus. Cramer expressed optimism about the merger but cautioned investors not to expect immediate results. Micron faced a downturn in shares as investors shifted away from previously popular AI stocks, despite price target increases from Baird and Citigroup.
Furthermore, Affirm Holdings saw a more than 6% increase in shares after Goldman Sachs initiated coverage with a Buy rating. Cramer noted his approval of this move, also mentioning Apple’s exit from the buy now, pay later sector. Overall, the stock market showed a mix of positive and negative trends, with companies like IBM and Carrier Global experiencing gains, while Micron faced challenges amidst changing investor preferences. Target’s partnership with Shopify and Affirm’s rating upgrade pointed to potential growth opportunities, but Cramer advised caution and a long-term perspective for investors.
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https://www.cnbc.com/2024/06/24/jim-cramers-take-on-target-shopify-deal-bullish-call-on-ibm-and-more.html