Jim Cramer says he likes Southwest (LUV - Get Report) , Snap-On (SNA - Get Report) and three other names for immediate investment.

Cramer told members of his Action Alerts PLUS investment club Wednesday during a members-only conference call that stocks he favors for the next three months include:

  • Alphabet/Google (GOOG - Get Report) , (GOOGL - Get Report) . He noted that the stock "could go down instantly when it reports," but that would create a buying opportunity.
  • Snap-on.
  • Southwest, which he thinks could be a good buy if it goes down to $55 (from $55.75 at Thursday's close).

Of the five stocks, Alphabet has the largest concentration in the Action Alerts PLUS charitable portfolio at about 4.86%, while Southwest has the smallest percentage at 2.03%.

There are currently 17 stocks with a No. 1 rating in the portfolio. Find out more about how to sign up for monthly conference calls and club membership here.

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At the time of publication, Action Alerts PLUS, which Cramer co-manages as a charitable trust, was long SNA, LUV, CMCSA, DHR, GOOGL.