9 Stocks Jim Cramer Talked About

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1. Tapestry, Inc. (NYSE:TPR)

Number of Hedge Fund Holdings: 60

Luxury goods manufacturer Tapestry, Inc. (NYSE:TPR)’s shares are up by 88% over the past year and by 18.6% year-to-date. Wells Fargo raised the share price target to $165 from $142 and kept an Overweight rating in February. The bank outlined that Tapestry, Inc. (NYSE:TPR) Coach brand was performing well and had exceeded expectations in the firm’s latest quarter. In Tapestry, Inc. (NYSE:TPR)’s latest quarter, Coach experienced a 25% annual revenue jump. Cramer praised the brand following the earnings, as he remarked that the firm had injected fresh life into the brand in a way that he didn’t think was possible. Baird also discussed Tapestry, Inc. (NYSE:TPR)’s shares after the earnings, as it raised the share price target to $160 from $140 and kept an Outperform rating. In this appearance, Cramer commented that the recent strong share price performance was a breath of fresh air after his co-host mentioned Tapestry, Inc. (NYSE:TPR):

“All great companies, this felt like, not 2023, when we had a comeback from COVID. Not 2016 when we had a comeback from the China problem. It felt like pre-FANG, it felt like pre FANG was invented. In 2013. Because those were so exciting and those pulled away. No, the companies that are pulling away are all household names. I say welcome back to traditional investing which is so much fun. We’re not looking at annual revenue. . .annual revenue rate, we’re not doing that. We’re not doing the Rule of 40, I mean as much as I like what Palantir is doing, I mean let’s give the due to some of these companies that are fantastic that we remember. I’m talking about great American companies. . .”

While we acknowledge the potential of TPR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TPR and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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