On CNBC’s “Mad Money Lightning Round,” Jim Cramer said he likes Quanta Services, Inc. (NYSE:PWR) and recommends buying the same. “I think there is still a buildout. Right now, because of the election, it looks like things aren’t going to go well. I think when that’s over, you’re going to see more building going on,” he added.
Lending support to his choice, Bernstein analyst Chad Dillard upgraded Quanta Services from Market Perform to Outperform on Sept. 24 and raised the price target from $748 to $775.
Cramer said Planet Labs PBC (NYSE:PL) is a “terrific” company and praised CEO Will Marshall.
“The stock went all the way up on a speculative bubble. Then it came all the way back down. It had a good day today [on Friday]. I think you should buy it. I think it’s done going down,” he added.
Planet Labs shares rose sharply on Friday after the company announced the successful launch of 20 satellites, including a prototype developed with Google.
Cramer said Duke Energy Corporation (NYSE:DUK) is down enough to buy now, while adding that he would like to get in at a 4% dividend yield. “Right now, it’s a little bit lower than that, because I do think the best piece of paper out there right now is the 5-year Treasury, which gives 5%. That’s going to give Duke a run for the money, which is why the stock’s been going down,” he added.
Duke Energy declared a quarterly cash dividend of $1.08 per share on its common stock on Oct. 1.
Price Action
- Quanta Services shares gained 2.1% to settle at $676.56 on Friday.
- Planet Labs shares jumped 8.4% to close at $17.50 during the session.
- Duke Energy rose 0.3% to settle at $114.13 on Friday.
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