Jim Cramer takes issue with Wolfe Research's 'very gutsy call' on this financial stock
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Discover Financial Services (DFS) stock surged 1.82% Thursday morning following an upgrade from Wolfe Research, to trade around $90 apiece.
The firm raised its rating on the stock to outperform, or buy, from peer perform, citing Discover's «underperformance fueled by internal control and risk management deficiencies that will ultimately...create a buying opportunity.»
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CNBC's Jim Cramer took issue with Wolfe's «very gutsy call,» citing reports of Discover overcharging merchants for more than a decade.
«People can't resist bargains. In this market, there's always some analyst who says 'I have to take advantage of it.' In the meantime, if you want a bargain, take advantage of Nvidia (NVDA) if the stock is down.»
The artificial-intelligence chipmaker, an Investing Club stock, reported another blowout quarter on Wednesday.
Here's a full list of the stocks in Jim's Charitable Trust , the portfolio used by the CNBC Investing Club.
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