NEW YORK (TheStreet) -- People are worrying about Visa (V - Get Report) and MasterCard (MA - Get Report), 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.
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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.