Stay the course on
, Jim Cramer said Thursday on
"Stop Trading!" segment.
Cramer said Cisco, up 7% off Wednesday evening's strong earnings performance, "is not done going up." He expects the stock to hit $30 from a recent $26.80 as the company benefits from its position as "the convergence play" in the cable and telecom networking business.
Cramer also likes
, because he said institutional investors crave the oil giant's consistency. Cramer said Exxon is growing at 8% annually and trades at 10 times earnings estimates, so it's not expensive. He said it also has cheap oil reserves that will continue to pay off even with the recent sharp decline in crude oil prices.
"Exxon is the one of choice," Cramer said of big investors' take on the oil industry. He noted the company's prodigious capacity to do buybacks and dividends and added that institutions want "something that will not embarrass them." Exxon is that company in the oil sector, he said.
also looks good, though he took issue with hedge fund manager Bill Ackman's claim that the stock is headed for $36. Cramer said Borders, up 11% at $23.87 Thursday afternoon on news of Ackman's buying, could go to $25-$26 because new management is "determined to turn this stock around."
At the time of publication, Cramer had no position in stocks mentioned.
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