Sony Group (SONY) got a thumbs up from Jim Cramer during CNBC's "Mad Money Lightning Round" on Monday, with the host calling the entertainment conglomerate a "buy" and noting the stock looks "undervalued."
The positive assessment comes as Sony makes moves to expand its intellectual property empire. On December 19, the company announced plans to boost its ownership in the beloved Peanuts franchise. Sony Music Entertainment (Japan) Inc. and Sony Pictures Entertainment Inc. signed a definitive agreement with WildBrain Ltd. to purchase WildBrain's roughly 41% stake in Peanuts Holdings LLC. The deal will give Sony's music and motion picture divisions controlling interest in the iconic property featuring Charlie Brown, Snoopy, and the gang.
Not every stock got Cramer's blessing, though. When asked about CubeSmart (CUBE), the self-storage REIT, Cramer wasn't enthusiastic. The company doesn't have enough growth potential, he said, "and there are others that are better" in the space.
That sentiment aligns with recent Wall Street action. On January 8, UBS analyst Michael Goldsmith maintained a Neutral rating on CubeSmart while trimming his price target from $38 to $37.
Price Action:
- CubeSmart shares gained 0.6% to settle at $37.90 on Monday.
- Sony shares gained 0.6% to settle at $25.18 on Monday.
