Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Molson Coors : Goldman Sachs upgraded the beer maker to a buy rating and raised its price target to $75 per share from $66. The analysts declared TAP the “big winner of spring shelf resets.” Jim Cramer said Tuesday beer retailers shuffle their shelf space allocations “twice a year.” Cramer said Gavin Hattersley, who took over as CEO of Molson Coors nearly five years ago, has executed a “turnaround after years of mismanagement.” The Club owns Modelo and Corona beer company Constellation Brands . Goldman was “incrementally more positive” on STZ, which reports its quarter Thursday. Freeport-McMoRan : Bank of America started the international mining company with a buy rating due to high-quality copper leverage and exposure to gold, which has been making new highs. Cramer questions the call as being late: “Parabolic move” in March lows and the analysts say buy now? FCX hit a multiyear high Tuesday. Nike : Piper Sandler’s semiannual teen buying survey is out. “Nike is continuing to lose share,” Cramer said. Not surprising, he added. “But that does mean you don’t expect a bounce back” in Nike shares. Cisco Systems : Deutsche Bank named the networking giant a catalyst call buy idea, citing low expectations. The Splunk deal and an upcoming Investor Day could improve sentiment, Cramer said. “Splunk is going to have a couple of good quarters,” he added. “You could have a lift here.” American Eagle Outfitters : JPMorgan upgrades the specialty retailer’s shares to a buy-equivalent overweight rating. The stock has more than doubled since its June 2023 lows. “There was a lack of conviction when it was lower,” Cramer said.
