Jim Cramer's 6 Stocks in 60 Seconds: P ALTR JACK MJN EL CMG (Update 1)

Check out Jim Cramer's latest trading recommendations on "Action Alerts Plus".

(Updates from 10:47 a.m. ET with closing information and a corrected ticker symbol for Mead Johnson Nutrition.)

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

Cramer said Apple's  (AAPL) streaming music service hasn't been able to slow down Pandora  (P), which had its price target raised by Piper Jaffray. P closed down 3.3% to $28.74.

Goldman Sachs downgraded Altera (ALTR). Cramer said the analyst is "throwing in the towel" since the stock has been such a poor performer. ALTR dropped 4.3% to $31.06.

Merrill Lynch says to buy Jack In The Box (JACK). Cramer added that the "key" for the company's success was closing Qdoba restaurants and opening more Jack In The Box locations. JACK was down 4 cents to $44.58.

Mead Johnson Nutrition (MJN) will benefit from higher baby formula sales in China now that the country has loosened its one-child population control policy, Cramer said. MJN was up 31 cents to $83.

Credit Suisse initiated Estee Lauder  (EL) as a buy. Cramer said the stock has been a "star" compared to Avon Products (AVP) and Coty (COTY), which have underperformed. EL was 30 cents lower to $72.56.

Morgan Stanley increased its price target on Chipotle Mexican Grill (CMG) to $594. Cramer said the company has accelerating comparable-store sales, which is "what people want." CMG was up 65 cents to $538.16.

If you liked this article you might like

CEOs Are Dropping Like Flies

How Facebook Is Trying to Avoid a Public Relations Disaster with Songwriters

Can an iTunes for News Succeed? Chartbeat Founder Thinks So

A Robot Will Be Taking Your Job Soon

Facebook's Video Ambitions Spur Talks With Music Industry