Jim Cramer While Discussing Johnson & Johnson: "It's Still Too Early to Buy the Momentum Stocks"

Johnson & Johnson (NYSE:JNJ) is one of the stocks that Jim Cramer recently commented on. Cramer discussed the stock in light of its latest quarter and analyst sentiment around it. He said:

“Sometimes you get these days where it feels like the market has returned to some semblance of what you’re used to when things get shaky. I mean, these are the days when J&J will reign supreme… My guess is that there’ll be maybe two or even maybe three days where interest rates are lower. This was day one, and you have to wait as the food and drug analysts come out from under the table and start bragging loudly about their flock and about how it’s time to buy. That’s what those guys always do… Which analysts are going to resist going out positive on J&J, which has moved up every day seemingly since the last quarter, maybe since they announced that quarter. Maybe the food analysts can talk up mergers… They’re reasonable presumptions, and they’ll preclude a serious tech rally or a speculative surge. Hear what I said, preclude. It’s still too early to buy the momentum stocks.”

Johnson & Johnson (NYSE:JNJ) develops and sells a wide range of healthcare products, including prescription treatments for major diseases and advanced medical technologies.

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Disclosure: None. This article is originally published at Insider Monkey.