Jim Cramer shared his insights on several companies, expressing his strong sentiment towards Trane Technologies and evaluating Carrier‘s current undervaluation.
Cramer commended Taiwan Semiconductor Manufacturing Company Limited for its impressive performance and characterized it as a “great” company.
This sentiment was echoed by the company’s 7.9% year-on-year revenue growth in January 2024, driven by robust demand for AI chips. This growth counteracted the declining trend in consumer electronics sales, which was reported by Bloomberg.
Reflecting on the state of contract manufacturing companies, Cramer lauded Celestica Inc. for its financial results and its optimistic first-quarter guidance, aligning it with other well-performing companies such as Jabil and Sanmina.
When discussing PDD Holdings Inc., Cramer advised caution, suggesting that trading may be more suitable than investing, especially considering the Chinese government’s efforts to bolster the stock market.
The recent surge in Chinese-listed companies on US stock exchanges was likely influenced by the news of potential stimulus measures in China.
In a comparably unusual analogy, Cramer likened the trading behavior of Comfort Systems USA to that of semiconductor stocks, implying an intriguing similarity.
Expressing his preferences, Cramer affirmed his strong support for Trane Technologies, emphasizing his admiration for the company, while identifying Carrier as currently undervalued.
Noteworthy acquisitions were made by Comfort Systems USA, including the purchase of J&S Mechanical Contractors, Inc. and a pending acquisition of Summit Industrial Construction, LLC.
Price Action:
- Shares of Comfort Systems rose by 2.4% and closed at $231.95 on Wednesday.
- PDD Holdings shares increased by 2.4% to $128.78 during Wednesday’s session.
- Celestica shares fell by 1.2% and settled at $57.50 on Wednesday.
- Shares of Taiwan Semiconductor Manufacturing rose by 4.7% to close at $124.98 on Wednesday.
- AvalonBay Communities shares gained 1.6% and settled at $172.75.
- Shares of Digital World Acquisition increased by 0.3% and closed at $45.64 on Wednesday.
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