This energy stock is the clearest winner in efforts aimed at powering the AI buildout
Every weekday, the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. 1. The S & P 500 was little changed Friday as the market struggled to hold onto earlier gains. “The one thing I would say is that many of our stocks are flying,” Jim Cramer said. Club holding Nvidia was one of them, with shares rallying over 1% to around $190 a piece earlier in the session before cooling off a bit. Jeffries analysts raised its price target on the stock to $275 from $250, saying that the stock remains cheap. Jim, however, doesn’t trust the idea of buying into Nvidia at current levels. “This is a sucker’s bet” to think it is not going lower in the near term, Jim added. 2. Honeywell was upgraded to a buy-equivalent rating over at JPMorgan, where analysts also raised their price target to $255 from $218. Analysts are more positive on Honeywell since it “extended its discount” to its sum of the parts. “The company is setting up to be a cleaner story heading into the year of the spin with the bulk of dilutive portfolio actions behind,” wrote analysts in a note to clients. We sold some shares of Honeywell this week to capitalize on recent strength. 3. The nation’s largest grid operator, PJM Interconnection, was asked by President Donald Trump to host an emergency auction allowing tech companies to bid on contracts for new power. White House officials told CNBC that the president is asking the company to build $15 billion of new baseload power generation. GE Vernova is the “clearest winner” in this scenario, according to Jeffries analysts. “They have to build more power plants. The only way you can build more power plants is to give it to GEV,” said Jim. 4. Stocks covered in Friday’s rapid fire at the end of the video were: Coterra Energy , Devon Energy , 3M , PNC , and J.B. Hunt . (Jim Cramer’s Charitable Trust is long GEV, NVDA, HON. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
