Jim Cramer -- Buy Facebook -- It's Going to $120 a Share

Jim Cramer, TheStreet's portfolio manager for Action Alerts PLUS and host of CNBC's "Mad Money," said shares ofFacebook (FB - Get Report) will go to $120 a share. Cramer was on the floor of the New York Stock Exchange,answering viewers' questions posted on social media.

Cramer said Facebook stock is inexpensive, but if you don't own it already, don't chase it higher. He suggested buying shares on a pullback.
Facebook is a big position in Cramer's Action Alerts PLUS portfolio. He thinks the company can earn $4 a share in 2017, and its revenue is growing at 41%.
While Cramer liked Facebook's earnings report, he wasn't happy with the quarterly numbers from Energy Transfer Partners (ETP - Get Report) , which is another one of his portfolio holdings. Cramer said the company recently boosted its distribution, but now it can't pay for all of it. That has left him confused, stunned and miffed.
Cramer said he's in the stock because of ETP's deal with Williams (WMB - Get Report) . Cramer said when that's completed, ETP will get its cash flow back.
A viewer asked Cramer's thoughts on Kraft Heinz (KHC) . Cramer said he needs to see the upcoming earnings report, and the company will be "magnificent" once costs are reduced there.
Another viewer asked if Cramer prefers Intel (INTC - Get Report) or Pfizer (PFE) for the long term. Cramer said they are both inexpensive, with very good yields. He added that if Pfizer buys Allergan (AGN) , he would vastly prefer Pfizer. He thinks the deal will happen, with a bid above $380 a share, and that's why Allergan is a huge position for Action Alerts PLUS.
One investor wanted to know if he should take profits in Cisco (CSCO) . Cramer said the stock is inexpensive with growth ahead of it. He advised to hold onto the stock, and if the quarter is disappointing, he suggests buying more.
Finally, Cramer was asked if Walmart (WMT) is a steal at $58 a share, and he responded it is not. Cramer said the company has pointed out that it's not going to have good earnings for a long time, and it will have to increase investment. Cramer also doesn't like the fact that Walmart is doing a stock buyback. He said it should walk away from that and use the money to try to beat Amazon (AMZN) .
Cramer answers viewers' social media questions during a daily segment with TheStreet TV. Find him on Facebook and on Twitter (TWTR) . Send him questions on Twitter @JimCramer, using #CramerQ.

By Rhonda Schaffler, Jim Cramer

Source:http://www.thestreet.com/story/13354089/1/jim-cramer-buy-facebook-it-s-going-to-120-a-share.html?kval=dontmiss