Jim Cramer continues to remain bullish on Facebook Inc. (NASDAQ:FB), Citigroup Inc. (NYSE:C) and Apple Inc. (NASDAQ:AAPL) as some of the best stocks in the market that are miss-valued but with huge growth potential taking into consideration their quarterly earnings. Citigroup Inc. (NYSE:C) had initially been discounted as a poor performer in the financial sector, but later on changed the course and reported strong quarterly earnings that beat estimates.
Citigroup Inc. (NYSE:C), according to Jim Crammer on CNBC, sorted out its problem amicably with the Department of Justice, as well as its toxic CEO exposure consequently generating a strong quarter that beat estimates.
“Just when pretty much everyone decided to write this bank off, it reports a very strong quarter, solves its entire justice department problem […]. No one thought that could happen at a decent price,” said Cramer.
Prior to announcing its quarterly earnings there had been reports that Facebook Inc. (NASDAQ:FB) was set to announce reduced earnings, due to reduced users engagement. Facebook Inc. (NASDAQ:FB) shunned the concerns reporting a stronger than expected quarter that saw it regain the $5 it had lost when people were selling. Concerns had been raised after a number of investors started selling their shares but have since retracted their position and started buying again, according to Cramer.
“The decline was a handwork of one or two sellers who banged it down in a very thin holiday ad-led market. Sure enough, a week later Facebook is up the $5 lost as buyers flooded back in,” said Cramer.
Cramer says that in reality, nothing happened to Facebook Inc. (NASDAQ:FB) to drive it up or down, and it is only the work of random moves that do not instill confidence.
Apple Inc. (NASDAQ:AAPL) makes its way into Cramer’s miss-valued stock list after receiving an upgrade from Barclays from a hold to ‘Buy.’ The upgrade of Apple Inc. (NASDAQ:AAPL) by Barclays PLC (ADR) (NYSE:BCS) follows on the heels of disarray in its competitor Samsung. The same analyst who had downgraded Apple Inc. (NASDAQ:AAPL) to a ‘Hold’ in February with a share price target of between $75 and $88 is the same one who has again upgraded the stock to a ‘Buy.’