Jim Cramer’s Investing Club meeting Monday: Trimming oil, Starbucks, Eli Lilly
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Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. Trimming HAL SBUX downgrade LLY opportunity? 1. Trimming HAL We are trimming 300 shares of Halliburton (HAL), at roughly $38.45 apiece, after the stock climbed more than 50% over the past 3 months. The energy sector has been broadly bolstered by rising crude oil prices, with West Texas Intermediate (WTI) crude — the U.S. oil benchmark — up more than 5% over the past week, at around $80 a barrel in midmorning trading Monday. We also downgraded Halliburton to a 2, meaning we would buy up some shares on a pullback. 2. SBUX analyst downgrade Deutsche Bank on Monday downgraded Starbucks (SBUX) to hold from buy. The bank isn’t negative on the stock, but believes that shares have less room to run after climbing roughly 24% over the past three months. We remain bullish on the coffee maker, and believe the stock will continue to rise as the company builds new stores in a reopening China. In other words, we don’t think investors should sell shares of Starbucks on this downgrade. Starbucks was trading down around 1.5%, at $103.48 a share, on Monday. 3. LLY buying opportunity? Cowen increased its price target on Eli Lilly (LLY) to $430 from $390 ahead of the company’s 2023 guidance call on Dec. 13. We continue to like this pharma giant and believe that if there’s a sell-off on guidance disappointment it could create a buying opportunity. Eli Lilly was trading down 0.48%, at $372.97 a share, on Monday. (Jim Cramer’s Charitable Trust is long HAL, LLY, SBUX. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
