Jim Cramer Likes Trane Technologies 'Very Much' But Carrier is 'Undervalued Right Now'

Jim Cramer doesn’t have much to say about Digital World Acquisition Corp. DWAC. "That’s just kind of a political stock SPAC," he said on CNBC's "Mad Money Lightning Round."

Taiwan Semiconductor Manufacturing Company Limited TSM is a "great" company, Cramer said.

The company clocked a 7.9% year-on-year revenue growth in January 2024 to NT$215.79 billion ($6.9 billion). It experienced a sales increase in January, driven by strong demand for AI chips, which helped counterbalance the ongoing decline in consumer electronics, Bloomberg reported.

Cramer said Celestica Inc. CLS is a "contract manufacturer not unlike Jabil JBL and Sanmina SANM, and these companies are all doing very well, and I like them."

Celestica recently reported better-than-expected fourth-quarter financial results and issued first-quarter adjusted EPS and revenue guidance above estimates.

When asked about PDD Holdings Inc. PDD, he said, "I don’t want to use the term invest. I think you can trade these because I believe that the PRC [People's Republic of China] is desperate to move the stock market up including PDD."

Shares of Chinese companies listed on US stock exchanges gained recently, likely in response to news about potential stimulus measures being considered by the Chinese government.

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When asked about Comfort Systems USA FIX, the "Mad Money" host said, "These heating ventilation air conditioning stocks trade like they’re semiconductor stocks."

Cramer said he likes Trane Technologies TT very much and Comfort Systems is good. Carrier CARR is the undervalued one right now, he added.

Comfort Systems USA recently acquired J&S Mechanical Contractors, Inc. headquartered in West Jordan, Utah. The company, last month, agreed to acquire Houston-based Summit Industrial Construction, LLC for an undisclosed price. The transaction is currently expected to close in the first quarter of 2024.

Price Action:

• Shares of Comfort Systems gained 2.4% to close at $231.95 on Wednesday.
• PDD Holdings shares rose 2.4% to $128.78 on Wednesday.
• Celestica shares fell 1.2% to settle at $ 57.50 during Wednesday’s session.
• Shares of Taiwan Semiconductor Manufacturing rose 4.7% to close at $124.98 on Wednesday.
• AvalonBay Communities shares rose 1.6% to settle at $172.75.
• Shares of Digital World Acquisition gained 0.3% to close at $45.64 on Wednesday.

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