Jim Cramer told viewers he feels confident the
will reach his 14,558 point target by year-end.
"I am not getting the component gains that I was looking for in that I thought the financials would be better," he said on TheStreet.com TV's Wall Street Confidential
Web video Thursday.
, the latter two of which Cramer owns for his charitable trust,
Action Alerts PLUS, are not contributing at all, he said.
AIG is doing well, but because Hank Greenberg is selling so much of his stock, the company is being weighed down, Cramer explained.
On the other hand, Cramer said there have been "really fabulous" gains in
was also powering the Dow higher, but now its 787 Dreamliner aircraft "is starting to falter, which is bad," Cramer said.
has been fantastic," he continued.
, however, has been "a little bit of a laggard," but Cramer said he expects it to start picking up. The quarter was "tepid," though, he said. It had "good revenues" but they didn't translate to the bottom line.
"What I'm seeing is that my target is definitely working," Cramer said. Every time it seems to be going right to 14,500, it has a stutter and manages to go only a bit over 14,100 before it pulls back a bit.
"That's how it has to happen," he said. "My target was created with the idea that we would get two
cuts. We've had one big one that was actually equal to the two. I'm feeling terrific about the target right here when we're 400 points away and we have two months to do it. That's exactly where we need to be."
At the time of publication, Cramer was long AIG and Citigroup.
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