Cramer credits CEO Doug McMillon for distinguishing himself and putting Walmart back on the map. Cramer says the company now has a sense of what categories are doing well and where to put its resources. He likens Wal-Mart to an army that is figuring out if it needs to put more money toward artillery, tanks or soldiers.
Cramer says McMillon has helped the company realize where to deploy its money, which is why Walmart has become a very different story. Cramer says he always felt Walmart did not know what it was doing and was just spending everywhere, but now it is more focused and delivering better results than people expected.
Cramer says lower gasoline prices and greater employment means Walmart gets to $85, where it would still be cheap. He adds it could go to $90, but it would need an estimate bump to do so.
The stock hit a 52-week high of $82.85 on Thursday.
TheStreet Ratings team rates WAL-MART STORES INC as a "buy" with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation: