Jim Cramer: Buy GameStop and Best Buy, and 3 More Stock Picks
Jim Cramer made the following calls on September 16th, 2013. What do you think about his picks?
GameStop Corp. (NYSE:GME): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Sell on January 10, 2013. The stock’s 52-week high is $56.08, and its 52-week low is $20.50. Cramer included GameStop in a list of big name stocks that he sees fund managers adding to their portfolios during the rest of this year. He cited GameStop’s aggressive cost cutting strategies and the introduction of new PlayStation and Xbox consoles as other positive drivers for the stock’s value.
Best Buy Co. Inc. (NYSE:BBY): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on June 21, 2013. The stock’s 52-week high is $39.07, and its 52-week low is $11.20. The company has seen a turnaround in the last year since the introduction of the company’s new CEO, Hubert Joly, and Cramer sees the stock as a value pick for the rest of 2013. However, news that Joly had to sell off shares, albeit for personal reasons, may impact the short-term performance of the stock.
CIENA Corp. (NASDAQ:CIEN): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on September 4, 2013. The stock’s 52-week high is $25.68, and its 52-week low is $11.96. Cramer reiterated his buy rating on the communications and networking company, which is rated as a hold or a buy by most major analysts at this point in time. There is some uncertainty about whether the stock will post additional gains, as it jumped in value near the start of this month but has yet to make significant additional progress since then.
Coty Inc. (NYSE:COTY): Jim Cramer ranked this stock a Sell. The stock’s 52-week high is $17.74, and its 52-week low is $15.28. Cramer said that he couldn’t get behind the beauty products company that has only been publicly traded for a few months. Coty released its first quarterly earnings report while on the markets, which, though it beat out most expectations and showed some strength in the potential of the company’s Asian divisions, did not alleviate concerns over the company’s performance in its traditional primary regions of the U.S. and Europe.
HomeAway, Inc. (NASDAQ:AWAY): Jim Cramer ranked this stock a Buy. The stock’s 52-week high is $34.30, and its 52-week low is $19.58. Cramer sat down with Brian Sharples, the CEO and founder of the online vacation property booking site Homeaway. Sharples said that their core was expanding at the rate of 20 percent per year, evidencing the growth opportunities available in the sector. He also commented that, while the company’s Super Bowl ad had been effective, they were not convinced that television advertising was the most efficient use of their funds moving forward, preferring to stick primarily to online channels.
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