CNBC’s ‘Mad Money’ host, Jim Cramer, offered his take on several stocks during the Lightning Round segment of his show. Here’s a breakdown of his recommendations:
XP Inc. (XP)
: Cramer advised against investing in XP Inc., a Brazilian financial services company. This comes after JPMorgan analyst Domingos Falavina maintained an Overweight rating and raised the price target from $28 to $29 on October 16.United Rentals, Inc. (URI)
: Cramer believes United Rentals, a leading equipment rental company, needs a pullback before becoming an attractive investment. This recommendation follows the company’s third-quarter earnings report on October 23, which showed worse-than-expected results and a narrowed FY24 revenue guidance.Okta (OKTA)
: When asked about Okta, a leading identity and access management company, Cramer’s response was simple: “You don’t need that one.” Okta is set to release its third-quarter fiscal year 2025 earnings after the closing bell on Tuesday, December 3.Talen Energy Corporation (TLN)
: Cramer gave a thumbs up to Talen Energy, a Houston-based power generation company. He believes the company is in a good position, despite the recent rejection of its amended Susquehanna Interconnection Service Agreement by the Federal Energy Regulatory Commission (FERC).Micron Technology, Inc. (MU)
: Cramer sees significant upside potential for Micron, a leading semiconductor manufacturer. This recommendation follows the announcement on October 30 that current Board Chair Robert (Bob) Switz will retire in January 2025.Lemonade, Inc. (LMND)
: Cramer sees Lemonade, an insurance company, as a short squeeze play. He advised investors to wait until Friday and then consider taking some profits. Lemonade’s third-quarter earnings and sales exceeded estimates on October 30, prompting the company to raise its FY24 guidance.Price Action:
* United Rentals shares climbed 10.3% to $880.32 on Wednesday.
* XP shares edged up 0.2% to $17.93.
* Okta shares gained 3.4% to $76.61.
* Talen Energy shares rose 1.3% to $192.13.
* Lemonade shares surged 16.9% to $29.29.
* Micron shares closed up 6% at $111.83.
