NEW YORK (TheStreet) -- People are worrying about Visa (V) and MasterCard (MA), TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Cramer's Mad Dash" segment Monday. But he can't understand why because the credit card companies' stocks appear to have stabilized.
He pointed out that R.W. Baird upgraded both stocks to buy from neutral, giving Visa a price target of $245 and MasterCard a price target of $83.
Cramer likes Visa at current levels because it has sold off too much. MasterCard missed its recent earnings report but he called the stock "cheap" at current levels.
Turning to Edward Lifesciences (EW), he praised the company's new device that allows surgeons to perform open-heart surgery without opening the chest cavity.The U.S. District Court in Delaware granted a preliminary injunction in favor of Edward Lifesciences as well, Cramer said. The ruling limits the sale of the CoreValve system, Medtronic's (MDT) device for open-heart surgery. Cramer said the ruling is very bullish for Edward Lifesciences and thinks the stock can now reach $100. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV