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(Updates from 11:10 a.m. ET with closing information and corrects ticker symbol in headline.)
NEW YORK (TheStreet) -- Here's what Jim Cramer had to say on CNBC's "Squawk on the Street" Tuesday.
Merrill Lynch/Bank of America placed Disney (DIS) on its buy list. The company reports earnings on Wednesday. Cramer thinks the analyst is positioning to buy shares in case of a decline. "I like this call," he said. DIS rose 1.5% to close at $71.05.
Jefferies upgraded Pfizer (PFE) to buy from hold and raised its price target to $38 from $33. The company is beginning to get some love from the analysts over its strengthening oncology pipeline, much like what happened to Bristol-Myers Squibb (BMY), Cramer said. "This is good news," Cramer concluded. PFE was 2.8% higher at $31.44.
Cramer agreed with Morgan Stanley that "wearables are going to be gigantic," referring to Apple's (AAPL) expected product launches this year. He said Apple has become a defensive play in the current market because it has held up relatively well compared to the broader market. AAPL is a holding in Cramer's charitable trust, Action Alerts PLUS. AAPL rose 1.5% to $508.79.
Deutsche Bank says not to worry about rising coffee prices hurting Starbucks (SBUX). Cramer said the stock "doesn't deserve" to be trading at $68, which is where it closed on Monday. SBUX perked up 2.4% to $70.65.