On CNBC’s “Mad Money Lightning Round,” Jim Cramer expressed his views on the stock market, indicating that American Electric Power Company, Inc. (AEP) is a buy, despite experiencing a 6% decrease in its stock valuation over the past six months.
In contrast, Cramer deemed Bunge Global SA (BG) a “battleground” stock, explaining, “I feel like the whole agricultural complex has become a battleground. And I’m not going to wade in there. I want that stock to bottom before I would make a move.” The sentiment was echoed by Wolfe Research analyst Sam Margolin, who downgraded Bunge Global from Outperform to Peer Perform last week.
Cramer also advised an investor inquiring about Allegiant Travel Company (ALGT) to consider purchasing Booking Holdings Inc. (BKNG) instead.
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Regarding the technology sector, Cramer suggested, “Intel Corporation (INTC) is a big winner in that, and I think you’ll be fine. Barlcays analyst Ryan Macwilliams maintained Intel with an Equal-Weight and raised the price target from $32 to $44. Intel is expected to release earnings results for its fourth quarter after the closing bell on Jan. 25, 2024.”
Price Action: Shares of Intel fell 2.1% to close at $46.06, while Booking shares fell 0.4% to $3,489.90 on Wednesday. Allegiant Travel fell 3.2% to settle at $71.84, while Bunge shares slipped 0.3% to close at $94.50 during Wednesday’s session. American Electric shares fell 1.5% to settle at $79.73 on Wednesday.
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