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(Updates from 10:52 a.m. ET with closing information.)

NEW YORK (TheStreet) -- Here's what Jim Cramer had to say on CNBC's "Squawk on the Street" Thursday.

Jefferies upgraded Johnson & Johnson (JNJ) - Get Report to buy from hold and increased its price target to $108. Cramer said the company, a holding in his charitable portfolio, Action Alerts PLUS, has a "great pipeline" of products and CEO Alex Gorsky is fabulous. JNJ rose 1% to $94.73.

Deutsche Bank downgraded ARM Holdings (ARMH) to hold from buy. Cramer said ARMH "was the once charmer for wireless" but is losing ground to Intel (INTC) - Get Report. ARMH dropped 8% to $48.79.

Canaccord says Deckers Outdoor (DECK) - Get Report is going higher and Cramer agreed with the call. He said there seems to be a line at every store, suggesting demand has remained high. DECK rose 2.6% to $88.11.

Bernstein likes Royal Bank of Scotland (RBS) - Get Report and Cramer does, too, saying it's a good breakup story. The stock "goes much higher," he concluded. RBS rose 1.4% to $11.96.

Thermo Fisher Scientific (TMO) - Get Report is "another one of those growth stocks" that just keeps going higher, Cramer said. TMO fell 4 cents to $114.

Baird upgraded Valspar (VAL) - Get Report to buy from hold and increased its price target to $80. Cramer said it's a "housing play" with some industrial exposure. VAL ended the day up 1.4% to $72.28.

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-- Written by Bret Kenwell in Petoskey, Mich.

Follow @BretKenwell

At the time of publication, Cramer's Action Alerts PLUS had a position in JNJ.

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