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China’s Devaluation Could Be Buying Opportunity for Walgreens, CVS, Allergan

June 30, 2023
in Trade Tube
Reading Time: 1 min read
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TheStreet’s Jim Cramer answers viewers’ Twitter questions from the floor of the New York Stock Exchange. Cramer said China’s decision to devalue its currency is having an impact on ‘all of our stocks that are our export stocks to China.’ Right now, Cramer says the best stocks to buy that are immune to the currency issues in China are Shake Shack (SHAK), Walgreens (WAB), Allergan (AGN) and WhiteWave (WWAV). Cramer said he is also a fan of the Kraft and Heinz (KHC) combination. Another viewer asks about Google and whether it’s still a ‘buy’ at current levels. Cramer said, ‘We think Google is a buy. It sells at 21x-22x earnings. It could go to 28x earnings. There is a wildly profitable part of Google that is not getting any credit and it’s growing madly like programmatic and YouTube. And then there are these other moonshots which if they pay off, will be dramatic. So, I think google is a huge buy even up here.’ If you have a stock question, tweet it to @jimcramer using #CramerQ.

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