Cramer says Boeing is a buy here — plus, bank stocks keep rolling

Every weekday, CNBC Investment Club with Jim Cramer hosts a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Friday's highlights. 1. Stocks rose on Friday, led by a recovery in Big Tech as AI trading tried to regain momentum. Nvidia shares rose nearly 3% after Bernstein noted that it was trading at 25 times forward earnings, placing it in the eleventh percentile of valuation over the past decade. That's cheap for the AI chip leader. Market power continued in the semiconductor group; Broadcom, AMD and Micron demanded higher fees. One stock that did not participate in the rally was Nike. Shares of the sneaker and sportswear maker fell 9.5% in one day after reporting solid earnings results but a disappointing forecast. 2. Jim also highlighted Wells Fargo's standout year under CEO Charlie Scharf. "Don't bet against Charlie," he said after The Wall Street Journal reported late Thursday that the bank had risen to 7th in the U.S. Mergers and Acquisitions league table, compared to 14th last year. The bank has advised on high-profile deals, including Netflix's bid for Warner Brothers and Union Pacific's bid for Norfolk Southern. Financial stocks have been down this year, prompting us to reduce our position in Capital One and book significant gains on Friday. On Thursday, we raised our price target on Capital One to $270 from $250 and downgraded our rating to 2. We also raised Goldman Sachs' price target to $925 from $850 and Wells Fargo's price target to $96 from $90. 3. Boeing shares rose 2.6% on Friday after JPMorgan reiterated the stock as a top pick and raised its price target to $245 from $240; This represents a 15% increase from the current price of $213 per share. Analysts argue that the aerospace manufacturer's path to growth is simple: build and deliver more planes. As cash flow expectations decline, JPMorgan believes it can achieve visibility of at least $10 billion by the end of the decade. Jim said he liked Friday's stock price for the buy. He called Boeing a "long-term idea" given the power of travel. 4. At the end of the video, the stocks covered in Friday's rapid fire were: FedEx, Conagra Brands, KB Home, Oracle, and CoreWeave. (Jim Cramer's Charitable Trust is long NVDA, AVGO, WFC, GS, COF, BA. See here for a full list of stocks.) When you subscribe to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trading alert before buying or selling a stock in his charitable foundation's portfolio. If Jim talked about a stock on CNBC TV, he waits 72 hours after issuing the trading alert before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH THE DISCLAIMERS. NO CIVIL OBLIGATIONS OR DUTIES EXIST OR SHALL BE RESULTING FROM YOUR RECEIVING ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULT OR PROFIT CAN BE GUARANTEED.