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Jim Cramer's 6 Stocks in 60 Seconds: AGN ADS PCLN MGM PRGO COF (Update 1)

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 - Get Report) 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 - Get Report) 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 (PCLN - Get Report) 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.

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Morgan Stanley also upgraded MGM Resorts International (MGM - Get Report) 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 - Get Report) 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 - Get Report) 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.

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-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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ADS $201.15 -0.87%
AGN $218.89 -0.54%
COF $73.36 -1.30%
MGM $21.35 -2.60%
PRGO $96.47 -0.79%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

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