On CNBC's "Mad Money Lightning Round," Jim Cramer said he likes Arm Holdings plc (NASDAQ:ARM). "The stock has come down a great deal, and yet, at the same time, I think its business is actually accelerating," he noted.
On Aug. 8, Bernstein upgraded the stock from Underperform to Market Perform and raised its price target from $92 to $100.
When asked about Energy Transfer LP (NYSE:ET), he said, "I believe its dividend is indeed safe. I've been back and forth and back and forth on this, and I believe that they have the coverage, and it's an inexpensive stock, and I like the pipeline companies very, very much here."
On Aug. 9, Energy Transfer announced a secondary public offering of 38,755,996 of its common units.
The "Mad Money" host recommended buying Paychex, Inc. (NASDAQ:PAYX) with a 3% yield. "I would buy some here, and then wait for some analysts to knock it down, buy even more. The company's an excellent company," he added.
On Aug. 20, JPMorgan analyst Tien-Tsin Huang maintained Paychex with an Underweight rating and raised the price target from $120 to $128.
Cramer said he likes defense stocks, and RTX Corporation (NYSE:RTX) is his favorite.
On July 25, RTX reported second-quarter results and raised its 2024 outlook. RTX's adjusted net sales increase 8% year-over-year to $19.791 billion, beating the consensus of $19.28 billion. Adjusted EPS grew 9% to $1.41, above the consensus of $1.30.
Price Action:
- Arm shares gained 1.8% to settle at $131.20 on Tuesday.
- Energy Transfer shares fell 1.2% to close at $15.91.
- Paychex shares slipped 0.1% to close at $130.10.
- RTX shares gained 0.7% to settle at $119.49 on Tuesday.
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