Cramer Likes BP, First Solar, This Stock; Not so Hot on JinkoSolar
Jim Cramer made the following calls on July 18th, 2013. What do you think about his picks?
BP plc (NYSE:BP): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on May 2, 2013. The stock’s 52-week high is $45.45, and its 52-week low is $39.42.
BP’s Bob Dudley met with Cramer last night to discuss the state of his oil business in the aftermath of the oil spill and a global shift in the energy market. Dudley said the company is committed to paying out legitimate claims related to damage from the oil spill, but noted that illegitimate claims have become a problem for the firm as time goes on. He noted the company has a bunch of new projects in development, and said that the company will even expand into natural gas, though oil will be its main focus. Cramer was positive on BP, and told viewers to buy.
First Solar, Inc. (NASDAQ:FSLR): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on May 15, 2013. The stock’s 52-week high is $59.00, and its 52-week low is $13.81.
Changing his story on First Solar last night during the lightning round, Cramer referred this stock over competitor JinkoSolar Holding Co., Ltd. (NYSE:JKS), saying that, “”If you want a solar, I’ll send you to First Solar. I didn’t like the way it finished the quarter, but I do like it now.” The stock is current right near its 52-week high, trading this morning at $48.10. Cramer’s website remains less convinced recently, and says that, “The company’s strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we find that the company’s profit margins have been poor overall,” warranting a ‘hold’ rating.
Cree Inc. (NASDAQ:CREE): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on June 18, 2013. The stock’s 52-week high is $70.64, and its 52-week low is $22.25.
“It is tried and true. It is doing really well. I know it has moved up a lot but I like it,” commented Cramer on Cree last night during the lightning round. The stock is indeed trading very high, approaching its 52-week high at a current price of $67.90. This valuation has prompted at least one firm the reduce its outlook, as Garp Research has demoted Cree from a buy to a hold.
JinkoSolar Holding Co., Ltd. (NYSE:JKS): Jim Cramer ranked this stock a Sell. The stock’s 52-week high is $12.94, and its 52-week low is $2.00.
Cramer, as previously noted, told viewers to opt for First Solar instead of getting in Jinko. The company is trading high, at $12.26, and has been looking to expand its business, securing a deal with the first private solar park in India. Jinko will supply 25.8 MW of solar modules to the park as it prepares to launch.