NEW YORK (TheStreet) -- Shares of Ulta Salon Cosmetics & Fragrances
(ULTA - Get Report) are shooting higher by roughly 15% after beating on top and bottom line estimates.
On CNBC's "Cramer's Mad Dash" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, also pointed out that same-store sales were higher in the recent quarter, while the company guided for next quarter's same-store sales to also be higher.
After becoming bearish on the company after several disappointing earnings results, Cramer changed his tune, saying, "I'm a believer," now that the company has a "renewed mission" and its strategic plan is paying off.
Turning quickly to Five Below
(FIVE - Get Report), he called shares "undervalued" at $35 and also said management at RadioShack
(RSH) should just admit the company's recent earnings results were bad.
He also noted that B. Riley & Company lowered its price target on RadioShack to $0. Needless to say, that's a sell rating.
While wrapping things up, Cramer looked to the analysts' commentary on shares of Micron
. Bank of America upgraded the stock to buy from sell, while Credit Suisse also issued a buy rating and raised its price target from $30 to an astounding $50.
Cramer said that according to the analyst comments from Credit Suisse, it's not only tight supply that's keeping prices of DRAM high, but also strong demand.
Co-host David Faber added that a lot of hedge funds are invested in Micron.
-- Written by Bret Kenwell in Petoskey, Mich.
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