These stocks are good deals with the market at record highs

CNBC’s Jim Cramer said on Wednesday he would look for buying opportunities in a stock market at record highs.

The S&P 500 and the Dow Jones Industrial Average both set closing records Wednesday, but the host of “Mad Money” said investors can still find “a dozen big names at any given time who can roar more. high”.

“Of course, when you look at the whole market, it may be overvalued compared to where it traded in the past, but if you consider that the bond market is giving you next to nothing, stocks are always the best deal. only game in town, ”Cramer said.

Cramer has identified seven stocks that he thinks are cheap opportunities at the moment.

Wednesday’s consumer price index showed used car price inflation slowing in July. Cramer thinks that could mean new cars are now available.

Automakers have struggled to keep up with demand due to a semiconductor shortage, but as chip supply recovers, Cramer believes Ford is a buy.

“Ford is now too cheap to ignore,” Cramer said.

Shares in the online payment system PayPal have fallen from their highs since the company reported lower than expected second-quarter earnings due to issues involving eBay’s payment processor change. This drop in stock prices created a buying opportunity for investors, according to Cramer.

“It’s been in the stock for ages,” Cramer said, referring to eBay’s situation. “Why not buy so much from PayPal? “

Cyber ​​security firm NortonLifeLock is on Cramer’s radar.

NortonLifeLock on Tuesday announced a merger with digital security firm Avast, sending the stock nearly 9% higher Wednesday. However, Cramer said the share price was still lower than it was when investors were first notified of the Avast transaction.

Although Cramer said American Eagle Outfitters consistently achieves the best comparable store sales among mall retailers, its inventory is still nearly 10% below its all-time high. Cramer thinks the retail clothing inventory is attractive here.

Aircraft maker Boeing has seen several favorable winds recently, including strong orders and deliveries in July. However, the stock is below its 52-week high since March, which Cramer called “crazy.”

Oil prices have been under pressure lately and oil company stocks are following suit. However, oil prices reversed losses on Wednesday and trended higher after the White House called on OPEC to increase oil production.

With oil currently at lower levels, Cramer said it was “the perfect time to pick up quality exploration and production parts” that care about their shareholders and corporate governance.

To that end, Cramer said that Pioneer Natural Resources and Devon Energy are two oil companies with a habit of returning capital to shareholders trying to reduce their carbon footprint. “Devon and Pioneer both work,” he told viewers.

Disclosure: Cramer’s charitable trust owns shares of PayPal, American Eagle, Boeing, NortonLifeLock and Ford.