Jim Cramer: NRG Up, Deluxe Out, Nvidia 'You Have To Trim'

On CNBC's “Mad Money Lightning Round,” Jim Cramer said he likes NRG Energy, Inc. NRG, adding that it's a “very good” utility.

Lending support to his choice, Goldman Sachs analyst Carly Davenport initiated coverage on NRG Energy with a Buy rating and announced a price target of $129.

“You can't own it like you used to, meaning you have to trim, and I said I'm going to have to sell some,” Cramer said when asked about NVIDIA Corporation NVDA. “It's a different world.”

On Tuesday, Nvidia said it would take a $5.5 billion charge this quarter related to halted shipments of its H20 graphics processing units to China and several other markets.

“Something is very wrong,” Cramer said. “I'm going to have to say ixnay on Deluxe Corporation DLX.”

As per the recent news, Bonko and Deluxe, on Tuesday, announced a strategic partnership to power seamless payment solutions for independent insurance agents.

When asked about Planet Labs PL, he said, “Ever since President Trump came in, we're not recommending any stocks that are losing money.”

On Friday, Goldman Sachs analyst Noah Poponak downgraded Planet Labs from Buy to Neutral and lowered the price target from $6 to $3.5.

Telefónica, S.A. TEF is a “good” company, Cramer said. “I'm going to give you a twofer, I like that one and Banco Santander SAN.”

Supporting his view, Telefonica, on Feb. 27, posted better-than-expected FY 2024 results.

Price Action:

• Nvidia shares gained 1.4% to settle at $112.20 on Tuesday.
• Deluxe shares fell 0.5% to close at $14.63 during the session.
• Planet Labs shares gained 4.5% to settle at $3.28.
• NRG Energy shares rose 1.2% to close at $97.11 on Tuesday.
• Telefonica shares gained 0.4% to settle at $4.68.

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