Jim Cramer's Mad Money In-Depth Stock Picks, May 24

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Thursday, May 24. Click on a stock ticker for more analysis:

Six More Dow Stocks: International Business Machines (IBM), Johnson & Johnson (JNJ), J.P Morgan Chase (JPM), McDonald's (MCD), Merck Co. (MRK), Microsoft (MSFT)

Cramer continued his series on Dow Stocks by admitting his target of $110 for IBM was too conservative, and given the company's great dividend and buyback, it should reach $114, but no higher. JNJ is a sell in spite of Warren Buffet's buying the stock. Cramer thinks it is staying at $63, and opines that maybe Warren Buffet liked the steady nature of the band-aid business, but adds "With so many other great names in the Dow, why back up the truck for band-aids?" Cramer called JPM's CEO Jamie Dimond a "great banker," but thinks he is going to be prevented from bringing out the best in JPM by the Fed; "Three more points for JPM, and then I'd declare victory." While MCD has a great international business, Cramer thinks it will peak 4 points from now at $55. Cramer says he was too conservative predicting MRK would go to $50, but at $53, he says the stock is "pretty much done for the year." On the other hand, he admits he was too bullish on MSFT, but is not changing his $35 target, since the company may underpromise and overdeliver.

Google (GOOG) and Amazon (AMZN)

Google has been stalled for a while, but Amazon has brought "in the jumper cables," says Cramer. AMZN's move from $39 to $69 makes GOOG look cheap in comparison, especially since Google has 63% sales growth and almost no competition while AMZN has 33% growth with competition from almost every retailer in America. Cramer sets the target for Google at $600, but admits he is being conservative.

Related: Average Joe Investor takes a look at Google.

Sell Block: CA Inc. (CA), Analog Devices (ADI)

Cramer declared a special "Crime and Punishment" edition of this week's Sell Block, inspired by the crime of his "hubris" (overweening pride) last week when he broke his own rule about avoiding tech until August. He now regrets having recommended CA which is down 7.4% since last Friday and ADI which he "missed by a mile."

Mad Mail: MEMC Electronic Materials (WFR), Taser International Inc. (TASR), Rowan Companies Inc (RDC), National Oilwell Varco (NOV)

When a viewer asked how to play the shortage of polysilicon in Chinese Solar IPOs, Cramer said WFR is the obvious choice, but it missed the quarter and at $58, it's a "no-go." Cramer told another viewer to hold on to Taser, which he recommended ahead of the French election, for at least a few more points. Cramer says RDC has "too much actual drill for me" and says NOV is still "best in show."

Related: Cross Profit makes the bullish case for NOV.

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Comments

[Ralph F]

Does this mean he was bullish on Amazon or bearish? Sounds like he thinks it's overvalued but has momentum.