Jim Cramer is Recommending These 10 Stocks in June

Published June 8, 2022 at 9:02 am EDT Updated September 7, 2026 at 11:32 am EDT

In this article, we discuss the 10 stocks that Jim Cramer is recommending in June.

Jim Cramer, the journalist investor and hugely successful former hedge fund manager, has become one of the first prominent finance personalities on television to publicly endorse the buying of beaten-down tech stocks once again as inflation finally starts to cool down and the future earnings of these stocks come back into fashion. In his show on CNBC on June 7, Cramer explained how a recent announcement by retailer Target that it would be shedding inventory indicated that the Fed had been successful in slowing down inflation to some extent.

Cramer pointed to the gains in major indexes like the Dow Jones Industrial Average, the S&P 500, and the NASDAQ Composite since the Target announcement to argue his point. He claimed that as the prices of goods start to come down, the central bank can hold off on raising interest rates, or at least hold off on raising them too aggressively, which meant that they could navigate a “soft landing”. Cramer also noted that the Target news indicated that “inflation may be peaking” and this meant that investors could start buying growth stocks once again.

However, Cramer advised his viewers to stick to “high-quality” names in the tech sector for now, since the market was still not out of the woods just yet. Some of the stocks that Jim Cramer is recommending in June include Palo Alto Networks, Inc. (NYSE:PANW), Johnson & Johnson (NYSE:JNJ), and Broadcom Inc. (NASDAQ:AVGO). Cramer has also recommended that investors buy the dip in oil stocks since these companies stayed afloat even amid market sell-offs, as buyers tended to keep coming back for them.

Our Methodology

These were picked keeping in mind the latest calls that Cramer made on these equities on his Mad Money show aired by news platform CNBC. An extensive database of around 900 elite hedge funds tracked by Insider Monkey in the first quarter of 2022 was used to identify the popularity of each stock among hedge funds.

Jim Cramer is Recommending These 10 Stocks in June

Jim Cramer is Recommending These Stocks in June

10. The J. M. Smucker Company (NYSE:SJM)

Number of Hedge Fund Holders: 29

The J. M. Smucker Company (NYSE:SJM) makes and sells branded food and beverage products across the world. Jim Cramer gave the stock a Buy recommendation during the Discussed Stock segment of his show on June 7. Cramer advised his viewers to look into recession stocks like J. M. Smucker, from the consumer packaged goods sector, as investors “fled to safety” in light of concerns around a slowing economy. The stock has jumped over 5% in the past five days even as the overall market tumbles.

On March 2, Credit Suisse analyst Robert Moskow maintained a Neutral rating on The J. M. Smucker Company stock and lowered the price target to $130 from $140, appreciating the earnings beat of the firm in the quarterly results but noting the disappointing guidance.

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Ariel Investments is a leading shareholder in The J. M. Smucker Company, with 1.2 million shares worth more than $172 million.

Just like Palo Alto Networks, Inc., Johnson & Johnson, and Broadcom Inc., The J. M. Smucker Company is one of the stocks on the radar of elite investors.

9. Chubb Limited (NYSE:CB)

Number of Hedge Fund Holders: 31

Chubb Limited (NYSE:CB) is a Switzerland-based insurance firm. The journalist investor gave the stock a Buy recommendation during the Lightning Round segment of his show on June 7. Cramer has been bullish on the company for the past few months as interest rates rise. In early May, in response to a question about his views on the stock, Cramer had said that Chubb was a “great company”. He added that the management of the firm was “just delivering, delivering, and delivering”.

On April 28, Barclays analyst Tracy Benguigui maintained an Overweight rating on Chubb Limited stock and raised the price target to $250 from $244, noting the firm had “demonstrated strong underlying underwriting margin expansion in the first quarter”.

At the end of the first quarter of 2022, 31 hedge funds in the database of Insider Monkey held stakes worth $1.8 billion in Chubb Limited, compared to 34 the preceding quarter worth $1.7 billion.

In its Q1 2022 investor letter, Aristotle Capital Management, an asset management firm, highlighted a few stocks and Chubb Limited was one of them. Here is what the fund said:

“Our investment in Chubb Limited began in the fourth quarter of 2015, shortly after ACE Limited announced it would acquire the Chubb Corporation, creating the largest global property and casualty insurance company by underwriting income. During our nearly seven-year holding period, the company’s combination progressed leading to the realization of main catalysts we had identified. These included cost savings, broadened product offerings and an expanded customer base, as well as enhanced distribution capabilities and improved pricing due to scale. In addition, Chubb Limited successfully grew its profitable high-net-worth personal lines. While we still consider Chubb to be a high-quality business, few catalysts remain after what was, in our opinion, a remarkable run of successful business execution. As such, we decided to step aside in favor of what we believe to be a more optimal investment in Blackstone.”

8. MetLife, Inc. (NYSE:MET)

Number of Hedge Fund Holders: 39

MetLife, Inc. (NYSE:MET) is a financial services firm with core interests in insurance. The former hedge fund manager gave the stock a Buy recommendation during the Lightning Round segment of his show on June 7. While answering a question about the company, Cramer said that he was going to have to say a “yes” to buying the stock because it was “too cheap” to ignore even though he was not a “great fan of insurers”.

On April 5, JPMorgan analyst Jimmy Bhullar maintained an Overweight rating on MetLife, Inc. stock and raised the price target to $75 from $69, backing the firm to outperform based on a “healthy balance sheet, ongoing share repurchases, and improving sales”.

At the end of the first quarter of 2022, 39 hedge funds in the database of Insider Monkey held stakes worth $945 million in MetLife, Inc., compared to 36 in the previous quarter worth $1 billion.

7. Lyft, Inc. (NASDAQ:LYFT)

Number of Hedge Fund Holders: 47

Lyft, Inc. (NASDAQ:LYFT) owns and runs a ridesharing marketplace. The former Goldman Sachs employee gave the stock a Buy recommendation during the Guest Interview segment of his show on June 7. During the show, Cramer spoke to John Zimmer, the founder and president of the company, and discussed how the firm was planning to build a hybrid network of autonomous and driver vehicles. Zimmer also claimed that the firm was more productive as travel returned with 20% more rides per driver in 2022 compared to 2019.

On May 16, Argus analyst Jim Kelleher maintained a Buy rating on Lyft, Inc. stock and lowered the price target to $41 from $72, noting the “strong growth” of the firm in the number of active riders, higher ride volume, and improved service levels.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Alkeon Capital Management is a leading shareholder in Lyft, Inc., with 5.6 million shares worth more than $217 million.

In addition to Palo Alto Networks, Inc., Johnson & Johnson, and Broadcom Inc., Lyft, Inc. is one of the stocks that elite hedge funds are monitoring.

In its Q1 2022 investor letter, Rowan Street Capital LLC, an asset management firm, highlighted a few stocks and Lyft, Inc. was one of them. Here is what the fund said:

“Lyft, Inc.: We sold Lyft, Inc. in Q1 ’22 to fund the acquisitions of our 3 new positions as we’ve outlined. We had owned Lyft for a little less than 3 years and realized approximately 50% gain on the stock. The new companies we bought with the proceeds from the sale are significantly better businesses, in our view.”

6. American Tower Corporation (NYSE:AMT)

Number of Hedge Fund Holders: 50

American Tower Corporation (NYSE:AMT) is a Boston-based real estate investment trust that primarily operates communications infrastructure. Cramer gave the stock a Buy recommendation during the Discussed Stock segment of his show on June 1. Cramer highlighted the “pure play” potential of the stock in the data center and cell towers domain, and also said that AMT was a “better investment” than peers like DigitalBridge because of a less complicated corporate structure.

On June 5, Bank of America analyst David Barden resumed coverage of American Tower Corporation stock with a Buy rating and a price target of $315, noting that the firm had removed overhangs for investors with a private capital announcement recently.

At the end of the first quarter of 2022, 50 hedge funds in the database of Insider Monkey held stakes worth $4.1 billion in American Tower Corporation, compared to 53 in the previous quarter worth $4.7 billion.

In its Q3 2021 investor letter, Qualivian Investment Partners, an asset management firm, highlighted a few stocks and American Tower Corporation was one of them. Here is what the fund said:

“What Attracts Us

Superior Business:

High barriers to entry resulting from low bargaining power of suppliers (land owners) and customers (wireless companies). Neither can find reasonable substitutes for existing cell towers. Combined with low possibility of disruption, this results in a business oligopoly and pricing power.

Stable business with consistent high returns on equity, low maintenance capital required, and strong cash generation.

− Ten-year, non-cancelable contracts with built in pricing escalators and high renewal rates

− 1%-2% churn

Superior Reinvestment Opportunities:

Strong growth for the foreseeable future due to increasing demand for wireless data usage, resulting in wireless carriers Capex equipment spend on existing and new towers.

Low maintenance capital expenditure requirements; most of capital expenditure is for growth

Superior Management / Capital Allocation:

Capital reinvested back in business has had returns well above cost of capital

Company has purchased stock opportunistically…” (Click here to see the full text)

5. Target Corporation (NYSE:TGT)

Number of Hedge Fund Holders: 50

Target Corporation (NYSE:TGT) is a general merchandise retailer. Jim Cramer gave the stock a Buy recommendation during the Lightning Round segment of his show on June 7. Cramer was of the opinion that recent news from the company that it would need to shed inventory, resulting in a strain on profits for the near-term, suggested that inflation might be peaking. He also said that the news was good for the central bank that had been fighting against inflation. He advised his viewers not to “overthink” in this scenario.

On June 7, DA Davidson analyst Michael Baker maintained a Buy rating on Target Corporation stock and lowered the price target to $171 from $205, noting the tough decisions the firm was making to set up for a “better second half with cleaner inventories”.

Among the hedge funds being tracked by Insider Monkey, Boston-based Arrowstreet Capital is a leading shareholder in Target Corporation, with 2.5 million shares worth more than $530 billion.

In its Q2 2021 investor letter, Nelson Capital Management, an asset management firm, highlighted a few stocks and Target Corporation was one of them. Here is what the fund said:

“We added Target Corporation to our consumer staples sector. Target Corporation offers a broad array of products in owned and known brand items at affordable prices. Its omni-channel fulfillment centers allow customers to receive their items via in-store pickup, curbside pickup, same-day shipping and regular shipping while simultaneously reducing operating costs. With a significantly lower valuation than peers and a unique operating strategy, Target Corporation is an attractive holding.”

4. Eli Lilly and Company (NYSE:LLY)

Number of Hedge Fund Holders: 53

Eli Lilly and Company (NYSE:LLY) develops and markets human pharmaceuticals. The journalist investor gave the stock a Buy recommendation during the Discussed Stock segment of his show on June 7. Cramer identified the company as a “recession” stock and one which investors who are fleeing to safety are likely to pick up in light of interest rate hikes by the Fed. Cramer has previously advised his viewers to buy the stock for the long-term potential it offers with regards to the drug pipeline.

On June 6, Mizuho analyst Vamil Divan maintained a Buy rating on Eli Lilly and Company stock with a price target of $356, noting that the firm was the top investment pick in the large-cap drug business.

Among the hedge funds being tracked by Insider Monkey, Florida-based investment firm GQG Partners is a leading shareholder in Eli Lilly and Company, with 1.6 million shares worth more than $485 million.

In its Q4 2021 investor letter, Saturna Capital highlighted a few stocks and Eli Lilly and Company was one of them. Here is what the fund said:

“Industrials and pharmaceutical companies were among the Amana Income Fund’s strongest performers in the fourth quarter. Industrials and pharmaceutical companies were among the Amana Income Fund’s strongest performers in the fourth quarter. Drug maker Eli Lilly and Company (NYSE:LLY is represented in the 10 Largest Contributors.”

3. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 71

Broadcom Inc. is a semiconductor manufacturer. The former hedge fund manager gave the stock a Buy recommendation during the guest Interview segment of his show on June 7. Cramer noted that there were indications that inflation was peaking and this meant that “beaten-down tech stocks” might come back in vogue, since they offered growth at a reasonable price now. Cramer listed Broadcom as one of these stocks, along with ServiceNow and Salesforce.

On May 27, Mizuho analyst Vijay Rakesh maintained a Buy rating on Broadcom Inc. stock and raised the price target to $725 from $700, noting that the VMware acquisition by the firm could potentially unlock a 45% upside in the shares.

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Cantillon Capital Management is a leading shareholder in Broadcom Inc., with 1 million shares worth more than $652 million.

In its Q4 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Broadcom Inc. was one of them. Here is what the fund said:

“However, ClearBridge portfolio companies are responding by supporting their workforces and showing resilience in adapting and thriving. Semiconductor companies ClearBridge owns and engages with have been successful in advancing vaccinations in their global supply chains. In Malaysia, for example, Broadcom Inc. has taken part in PIKAS, a public-private partnership vaccination program focusing on the workforce in critical manufacturing sectors. By the summer of 2021 Broadcom Inc. was able to get over 90% of workers in its Penang factory at least one dose of vaccine, and roughly 73% fully vaccinated. Companies in the program also pay the administration cost for vaccinations including cases where the employee is no longer employed by the company before full immunization of the employee.”

2. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 83

Johnson & Johnson makes and sells healthcare products. Cramer gave the stock a Buy recommendation during the Lightning Round segment of his show on June 7. Cramer has previously placed the company among a basket of “great American firms” that are trading at discounted prices because of the overall market volatility and fears of a recession and which investors might miss out on if inflation were to fall, since that would lead to a correction in the valuation of these firms.

On May 17, Citi analyst Joanne Wuensch maintained a Buy rating on Johnson & Johnson stock and lowered the price target to $205 from $210, noting that market multiples were contracting due to “higher inflation, slowing growth, and rising interest rates”.

At the end of the first quarter of 2022, 83 hedge funds in the database of Insider Monkey held stakes worth $7.4 billion in Johnson & Johnson, the same as in the previous quarter worth $7.3 billion.

1. Palo Alto Networks, Inc. (NYSE:PANW)

Number of Hedge Fund Holders: 87

Palo Alto Networks, Inc. provides cybersecurity solutions. On June 7, Cramer gave the stock a Buy recommendation during the Executive Decision segment of his show. During the course of his interview with Nikesh Arora, the CEO of the firm, Cramer discussed the health of the cybersecurity market and the costs that firms were willing to pay to build new tech infrastructure from the ground up with security built-in.

On May 20, Morgan Stanley analyst Hamza Fodderwala maintained an Overweight rating on Palo Alto Networks, Inc. stock with a price target of $823, noting that “security remains a relative safe haven in an uncertain macro environment”.

Among the hedge funds being tracked by Insider Monkey, Chicago-based firm Citadel Investment Group is a leading shareholder in Palo Alto Networks, Inc., with 1.3 million shares worth more than $838 million.

In its Q1 2022 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Palo Alto Networks, Inc. was one of them. Here is what the fund said:

“The portfolio also saw solid performance from cybersecurity names Palo Alto Networks, Inc. which is gaining prominence as the risk of global cyber attacks increases as part of the Russian offensive. On an individual stock basis, leading contributors to absolute returns in the first quarter included positions in Palo Alto Networks.”

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