By 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.”
If you like this story, sign up for Jim Cramer’s Top 10 Morning Thoughts on the Market email newsletter for free.
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.
