Jim Cramer Won't Press 'Buy Button' On This Stock, Calls Out Insurers: 'They Have No Idea What's Going On'

On CNBC’s "Mad Money Lightning Round," Jim Cramer recommended to buy Constellation Energy Corporation CEG. "All the kin of energy that I like under one roof," he added.

Constellation Energy, last month, announced the board approved a $1 billion increase to the company's previously announced $1 billion repurchase program.

When asked about Chegg, Inc. CHGG, he said, "I think it’s an exploratory situation, but I cannot press the buy button."

Goldman Sachs analyst Eric Sheridan downgraded Chegg to Sell from Neutral, lowering the price target to $8 from $10. The analyst modestly lowered revenue estimates, reflecting a lower subscriber count as the competitive environment intensifies, particularly as it relates to ChatGPT and other emerging competitors leveraging generative AI.

Cramer said he likes The Timken Company TKR. "I think it’s real good," he added.

DA Davidson analyst Michael Shlisky, last week, initiated coverage on Timken with a Buy rating and announced a price target of $92.

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When asked about UnitedHealth UNH, Cramer said "that group is in a massive reset."

"As much as I respect the work of all of these companies, they don’t, they have no idea what’s going on in their own business right now," he said.

UnitedHealth recently reported a net profit of $22.4 billion in fiscal year 2023 and around $5.5 billion in for the fourth quarter. Group revenues for the fourth quarter rose 14% year-over-year to $94.4 billion, topping analysts’ estimates of $92.14 billion.

Price Action

• Shares of UnitedHealth gained 2% to close at $503.20.
• Chegg shares gained 1.9% to $10.33 on Friday.
• Timken shares fell 0.4% to settle at $81.43.
• Constellation Energy shares gained 0.6% to close at $121.27 during Friday’s session.

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Image by Pete Linforth from Pixabay