5 Best Jim Cramer Stocks To Buy According to Billionaires

This article presents an overview of the 5 Best Jim Cramer Stocks To Buy According to Billionaires. To see more such stocks, click 11 Best Jim Cramer Stocks To Buy According to Billionaires.

5. Uber Technologies Inc (NYSE:UBER)

Number of Billionaire Investors: 23

Last month, Jim Cramer gave some bullish comments on Uber Technologies Inc (NYSE:UBER) while answering a question about Uber Technologies Inc (NYSE:UBER). Cramer said the company posted some “amazing numbers” for the recently reported quarter.

Uber Technologies Inc (NYSE:UBER) is all set to join the S&P 500 index later this month. Argus recently increased its price target on Uber Technologies Inc (NYSE:UBER) to $69. The firm praised Uber Technologies Inc’s (NYSE:UBER) cost-cutting measures which helped it swing to profitability.

“We note that Uber has significant size and scale advantages over Lyft and believe that it has moved past a multiyear period of operating losses. We also expect it to begin share buybacks,” Argus said.

Here is what Polen U.S. Opportunistic High Yield Fund has to say about Uber Technologies, Inc. (NYSE:UBER) in its Q3 2023 investor letter:

“Uber Technologies provides ride hailing services to customers worldwide. The Company develops applications for road transportation, navigation, ride sharing, and payment processing solutions. Polen Capital originally purchased the 4.5% Senior Unsecured Notes due 2029 in our client accounts on the back of the Company’s new focus on profitability and free-cash-flow generation. Our view was that the Company’s credit metrics would improve over the next two-to-three years to levels on par with investment grade issuers. The Company’s fundamental profile has improved which resulted in spread tightening. Given the yield currently offered on the Notes, Polen Capital sold down its exposure and used the proceeds to purchase higher yielding debt instruments.”