Jim Cramer Says Buy This Utilities Stock Down 6% Over Past 6 Months, Calls Bunge A 'Battleground'

On CNBC’s "Mad Money Lightning Round," Jim Cramer said American Electric Power Company, Inc. AEP is a buy. The company’s stock has lost around 6% over the past six months.

Bunge Global SA BG is a "battleground" stock, Cramer said, "I feel like the whole agricultural complex has become a battleground. And I’m not going to wade in there. I want that stock to bottom before I would make a move." Wolfe Research analyst Sam Margolin, last week, downgraded Bunge Global from Outperform to Peer Perform.

When asked about Allegiant Travel Company ALGT, he said, "Why don’t you just go buy Booking Holdings Inc. BKNG."

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"I think that we’re having a big PC refresh," Cramer said. "Intel Corporation INTC is a big winner in that, and I think you’ll be fine." On Tuesday, Barclays analyst Ryan Macwilliams maintained Intel with an Equal-Weight and raised the price target from $32 to $44. Intel is expected to release earnings results for its fourth quarter after the closing bell on Jan. 25, 2024.

Price Action: Shares of Intel fell 2.1% to close at $46.06, while Booking shares fell 0.4% to $3,489.90 on Wednesday. Allegiant Travel fell 3.2% to settle at $71.84, while Bunge shares slipped 0.3% to close at $94.50 during Wednesday’s session. American Electric shares fell 1.5% to settle at $79.73 on Wednesday.

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