NEW YORK (TheStreet) -- TheStreet's Jim Cramer says he likes what he heard from Walmart  (WMT - Get Report) on Thursday when the retail giant posted third-quarter earnings that beat analysts' expectations.

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.

Must Watch: Jim Cramer: Doug McMillon Is Helping Turn Walmart Around

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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:

"We rate WAL-MART STORES INC (WMT) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, reasonable valuation levels and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins."

WMT Chart WMT data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.