Jim Cramer: AutoZone Is A 'Great' Stock, Recommends Buying This Energy Stock

On CNBC's “Mad Money Lightning Round,” Jim Cramer said Plains All American Pipeline, L.P. PAA is a buy.

Adding support to this choice, Raymond James analyst Justin Jenkins, on Tuesday, maintained Plains All American with a Strong Buy rating and raised the price target from $23 to $24.

The company, meanwhile, is scheduled to release fourth-quarter earnings before the opening bell on Friday, Feb. 7.

Analysts expect Plains All American Pipeline to report quarterly earnings at 43 cents per share, up from 42 cents per share in the year-ago period. The company projects to report quarterly revenue of $13.95 billion, versus $12.7 billion a year earlier.

AutoZone, Inc. AZO is a “great” stock, Cramer said. “They buy a lot of their own stock.”

Supporting his view, Barclays analyst Matthew McClintock, on Jan. 9, maintained AutoZone with an Overweight rating and raised the price target from $3024 to $3585. On Jan. 2, Argus Research analyst Bill Selesky also boosted the price target on the stock from $3560 to $3678.

However, as per the recent earnings report, AutoZone, on Dec. 10, reported fiscal first-quarter earnings per share of $32.52, missing the Street view of $33.76. Quarterly revenues of $4.28 billion also missed the analyst consensus of $4.30 billion.

Price Action:

• AutoZone shares gained 1.1% to settle at $3,351.01 on Thursday.
• Plains All American Pipeline shares gained 1.6% to close at $20.96 during the session.

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