Jim Cramer Shared Insights on 15 Stocks

2. Wells Fargo & Company (NYSE:WFC)

Number of Hedge Fund Holders: 88

Wells Fargo & Company (NYSE:WFC) is one of the stocks that Jim Cramer shared insights on. Coming to the company as part of his game plan for the week, Cramer commented:

“I care tremendously actually about Charitable Trust holding Wells Fargo. Now that their asset cap problems are behind them, who knows how high CEO Charlie Scharf can take an unfettered Wells?”

Wells Fargo (NYSE:WFC) provides banking, investment, lending, and financial services to individual, commercial, and institutional clients, including personal banking, credit, wealth management, and corporate finance solutions. On July 7, Cramer discussed the stock in light of the recent downgrade by Raymond James.

“Finally, Raymond James downgraded Wells Fargo, another Charitable Trust name, with a very dismissive, ‘downgrading to Market Perform.’ This is a Strong Buy to Market Perform. Wow. Favorable fundamentals reflect in valuation. Now, the analysts going from Strong Buy to Hold, two markdowns, you think something’s wrong, right? No, they just think the upside’s baked into the share price. I think it’s crazy. First, Wells Fargo is priced like almost any other bank stock, so it’s not like there’s a premium valuation. Second, these guys just got outta the penalty box when the Fed lifted its longstanding asset cap, allowing Wells to do more lending. Third, the bank stocks have become leaders here, and this is one of them. How the heck will this analyst get back on? I don’t think he can…

Some stocks deserve the benefit of the doubt. With Netflix, CrowdStrike, and Wells Fargo, you’re buying into franchises with excellent bona fides and very smart CEOs. I’d much rather stick with these winners than sell them on valuation worries. I just don’t think you’ll be able to get back into such high-quality stocks at an easy-to-find lower level.”