NEW YORK (TheStreet) -- Although TheStreet's Jim Cramer doesn't like the market's set-up on Thursday -- with oil prices falling and the dollar moving higher -- he turned his attention to Rite Aid (RAD - Get Report) and GW Pharmaceuticals (GWPH).

Analysts at Bank of America are bullish on Rite Aid's stock, initiating it with a buy rating and assigning an $11 price target, Cramer, the co-manager of the Action Alerts PLUS portfolio, said during CNBC's "Mad Dash" segment. 

Rite Aid has refurbished 1,741 stores of its 4,570, he said, adding that this is helping the company grow. 

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Rite Aid also has a powerful loyalty program and leverage when it comes to lowering its debt, Cramer said.

It is likely that the stock will reach the $11 price target, he said. 

Meanwhile, analysts at Morgan Stanley assigned a base case target of $150 to shares of GW Pharmaceuticals and a bull case target of $195 to go along with an overweight rating. 

Shares are up 12.4% in response to the report. 

The U.K.-based company is interesting because it is able to work on cannabis drugs that are illegal in the United States, Cramer said.

And though GW Pharmaceuticals has a market capitalization of just $2 billion, its potential and offshore establishment makes the company ripe for an inversion takeover, albeit, a small one, he said.

At the time of publication, Cramer's Action Alerts PLUS had no positions in the companies mentioned.