Jim Cramer Says He's Buying 'Some Target,' But Dismisses SoundHound AI As 'Meme Stock'
Portfolio Pulse from Avi Kapoor
Jim Cramer expressed his interest in buying Target Corporation (TGT) and Merck (MRK) stocks, while dismissing SoundHound AI (SOUN) as a 'meme stock'. Target recently appointed Jim Lee from PepsiCo as its CFO. Unity Software (U) received an Underperform rating from Macquarie, and Alumis (ALMS) is considered highly speculative by Cramer.
October 09, 2024 | 12:36 pm
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POSITIVE IMPACT
Cramer recommends buying Merck shares. The successful Phase 3 trial of Keytruda could boost investor confidence.
Cramer's recommendation and the positive trial results for Keytruda suggest potential upside for Merck's stock.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
Jim Cramer is buying Target shares, indicating confidence in the stock. Target's recent appointment of Jim Lee as CFO could strengthen its leadership.
Cramer's decision to buy Target shares suggests a positive outlook. The appointment of a seasoned CFO from PepsiCo may enhance Target's strategic direction.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Cramer views Alumis as highly speculative, warning investors of potential total loss.
Cramer's warning about the speculative nature of Alumis suggests potential risk, leading to possible short-term negative sentiment.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 40
NEGATIVE IMPACT
Cramer dismisses SoundHound AI as a 'meme stock' due to its financial losses, despite a Buy rating from DA Davidson.
Cramer's negative view and the stock's financial losses may lead to short-term downward pressure, despite a Buy rating.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Unity Software received an Underperform rating from Macquarie, with a price target increase to $15, indicating cautious sentiment.
The Underperform rating suggests limited short-term upside, despite a slight increase in the price target.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50