Jim Cramer: Reddit Is 'Inexpensive' While SiTime Is ‘Expensive’

On CNBC’s “Mad Money Lightning Round,” Jim Cramer recommended buying Reddit, Inc. (NYSE:RDDT), calling the stock “inexpensive.”

Reddit said it will release third-quarter financial results after the closing bell on Thursday, Oct. 29.

Cramer said that although ExxonMobil Holdings Corporation (NYSE:XOM) is good, but Chevron Corporation (NYSE:CVX) is better.

Morgan Stanley analyst Devin McDermott maintained an Overweight rating on ExxonMobil on Thursday and raised the price target from $177 to $185.

When asked about Enterprise Products Partners L.P. (NYSE:EPD), he said, “They do natural gas liquids. They are the other part of the equation, not oil. You’re fine on that one. As a matter of fact, I think you have to take advantage of it because it’s getting hit as if it is going to get hurt, but it’s not.”

JP Morgan analyst Jeremy Tonet, on Oct. 8, maintained the stock with a Neutral and cut the price target from $43 to $42.

SiTime Corporation (NASDAQ:SITM) is “expensive,” Cramer said. “I’m not recommending expensive stocks in tech or out of tech.”

On earnings, SiTime will announce its third-quarter results on Wednesday, Nov. 4, after the closing bell.

Cramer said Coherent Corp. (NYSE:COHR) and Lumentum Holdings Inc. (NASDAQ:LITE) are good, but Corning Incorporated (NYSE:GLW) is best.

B. Riley Securities analyst Dave Kang, on Thursday, maintained Coherent with a Neutral and lowered the price target from $345 to $297.

Valero Energy Corporation (NYSE:VLO) is the “riskiest trade in the world. This thing is a double or nothing trade from here,” Cramer said.

Wells Fargo analyst Sam Margolin maintained an Overweight rating on Valero Energy on Wednesday and raised the price target from $389 to $485.

Price Action

• Reddit shares gained 7.2% to settle at $159.36 on Thursday.
• Exxon shares fell 1.2% to close at $174.68.
• Enterprise Products Partners fell 0.6% to settle at $35.57 on Thursday.
• SiTime shares dipped 4.5% to close at $501.59.
• Coherent shares fell 4.8% to settle at $250.60.
• Valero shares fell 3.4% to close at $444.06 on Thursday.

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