Check out Jim Cramer's latest trading recommendations on "Action Alerts Plus". (Updates from 10:47 a.m. ET with closing information.)
NEW YORK (TheStreet) -- Here's what Jim Cramer had to say on CNBC's "Squawk on the Street" Tuesday.
Everyone hated Allergan (AGN) a few months ago, Cramer said. But because its new drug, Restasis, has no patent infringements and is projected to do well, investors like it again. RBC Capital Markets recommended it as a buy. AGN rose 1.6% to $112.55.
Goldman Sachs downgraded Alliance Data Systems (ADS) to hold from buy. Cramer disagreed, saying its business is doing great. Goldman Sachs is saying "it's too expensive. I think they're wrong," he said. ADS fell 1.2% to $255.19.
Morgan Stanley upped its price target on Priceline.com (PCLN) to $1,320 from $1,210. Cramer agreed, adding that the stock will likely "go much higher." PCLN rose 2.1% to $1,163.07.Morgan Stanley also upgraded MGM Resorts International (MGM) to buy from hold and raised its price target to $28, from $21. Cramer said, "I still like Wynn Resorts (WYNN) better, but MGM is terrific." MGM jumped 4.4% to $24.51. "Perrigo (PRGO) is the value play in its group," Cramer said. He added that people didn't understand its tax changes at first because of the company's move to Ireland. PRGO was 1.2% higher at $154.58. Capital One Financial (COF) was added to Goldman Sachs' conviction buy list and given a $90 price target. Cramer said he agreed with the call and that credit card companies will make even more money as the yield curve continues to steepen. COF ended the day up nearly 1% at $77.28. To sign up for Jim Cramer's free Booyah! newsletter, with all of his latest articles and videos, please click here. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
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