Jim Cramer: This Utilities Stock Is A Buy, Calls Wells Fargo A 'Winner'

On CNBC's “Mad Money Lightning Round,” Jim Cramer said Wells Fargo & Company WFC is going to go higher, adding that it's a “winner.”

On Sept. 17, the San Francisco-based bank launched specialized Application Programming Interfaces (APIs) for its Commercial Banking clients, expanding its API portfolio.

These APIs offer real-time data access aimed at boosting sales, improving liquidity, reducing credit risk, and cutting expenses for floorplan and channel finance clients across several industries.

“It's had too big a move up,” Cramer said when asked about Iron Mountain Incorporated IRM. “Let's move on.”

On Aug. 1, Iron Mountain reported better-than-expected second-quarter financial results and issued FY24 AFFO guidance above estimates. Also, the company increased its quarterly dividend.

Palantir Technologies Inc. PLTR is a “cold” stock, Cramer said.

On Sept. 17, the company inked a multi-year, multi-million-dollar contract with Nebraska Medicine. As per the deal, Palantir will utilize its Artificial Intelligence Platform (AIP) to enhance healthcare through transformative technologies.

The “Mad Money” host recommended buying PG&E Corporation PCG. “That stock is a good one, rate increase or no,” he added.

On Sept. 12, B of A Securities analyst Ross Fowler reinstated PG&E with a Buy and announced a $24 price target.

Price Action:

• Iron Mountain shares gained 0.5% to settle at $116.45 on Wednesday.
• Wells Fargo shares fell 0.5% to close at $54.26 during the session.
• Palantir shares fell 0.2% to close at $36.38 during Wednesday's session.
• PG&E shares fell 1.8% to settle at $19.51.

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