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NEW YORK (TheStreet) -- Investors who are bearish on Amazon (AMZN) should stop listening for the moment, TheStreet's Jim Cramer said on CNBC's "Mad Dash" segment on Friday. 

Cramer, the co-manager of the Action Alerts PLUS portfolio, cited a report by Aram Rubinson, managing director at Wolfe Research, which highlighted bullish themes at Amazon.

Rubinson pointed out the company's subscriptions service, Amazon Prime, is wildly profitably, and if it were paid out in the form of a dividend, it would result in a 3.8% yield. The company is focused on increasing profitability, and last quarter's surprise profit was not a one-time phenomenon. 

Those who understand and use Prime, understand the value that it creates for subscribers, Cramer said, just like members at Costco  (COST) and Netflix (NFLX) see value from their subscriptions. 

Amazon AMZN data by YCharts

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On FedEx (FDX) , Cramer pointed out that the stock was upgraded from neutral to outperform by Credit Suisse and its price target was increased from $177 to $203. 

The stock has been trading sideways for the past few months, Cramer said, and Credit Suisse sees good results coming in FedEx's upcoming earnings report. 

The company's U.S. ground network is a high-margin business and likely did well in the recent quarter. If the company's ground business did do well, it could boost gross margins for the quarter, Cramer explained. 

"I love this call," Cramer said of Credit Suisse's report. 

-- Written by Bret Kenwell

Follow @BretKenwell

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.