Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. WFC is a buy Still like PG Bull case for GOOGL? 1. Wells Fargo is a buy Morgan Stanley raised its price target on Wells Fargo (WFC), to $60 from $54, on the back of higher interest rates. We have been suggesting that investors buy financial names to play the Fed’s tightening cycle – and Jim Cramer recommended Monday that new Club members buy the stock. 2. We still like Procter & Gamble Deutsche Bank on Monday downgraded several household product names but kept a buy rating for Procter & Gamble (PG), citing its appropriately-set earnings expectations and valuations. We continue to like PG as a dependable stock during turbulent economic conditions. Jim said Monday that the stock remains one of his absolute favorites, particularly as the strong U.S. dollar peaks and raw costs go down. 3. Bull case for Alphabet? As more companies layoff employees , particularly in the tech industry , we expect that more people will lose their jobs across industries. We advise investors who believe these layoffs are good news for companies’ expense lines to consider buying shares of Google-parent Alphabet (GOOGL), which unlike some of its Big Tech counterparts has not yet sizably curtailed its headcount . Jim called Alphabet the “winner when you want to try to figure out where to put additional money.” (Jim Cramer’s Charitable Trust is long GOOGL, PG, WFC. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Source: Finance - cnbc.com
