NEW YORK ( TheStreet) -- Exxon Mobil (XOM - Get Report) is hosting its analyst meeting Wednesday. TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said the oil giant doesn't have enough growth.
"People want growth," which a company like Continental Resources (CLR), provides, Cramer said.
Going one step further, he pointed out Exxon's stock would not have moved from $85 to $95 if it wasn't for some help from Warren Buffett, who took a position in the stock.
Buffett does not concern himself with short-term problems but focuses on long-term opportunities, Cramer noted. If that's the case, Exxon Mobil must have a 50-year plan. Exxon also returns a lot of cash to shareholders in the form of share buybacks and dividend payouts.
Turning to the automotive space, Cramer really likes General Motors (GM - Get Report). The Action Alerts PLUS name looks like it's "going to break out here," he said. Cramer said the company actually benefits from a rising interest rate environment because it cuts down on its pension obligations.
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He added CEO Mary Barra will be able to put vehicle recalls behind the company while finding continued success in China. Cramer also likes the 3.2% dividend yield. After falling nearly 10% for the year to date, Cramer advised investors to "buy GM right here."
-- Written by Bret Kenwell in Petoskey, Mich.