Jim Cramer’s ‘Mad Money’ Lightning Round: Target, Unity Software, Merck & More

In a recent episode of CNBC’s ‘Mad Money Lightning Round,’ renowned investor Jim Cramer offered his insights on several publicly traded companies. He shared his bullish stance on Target Corporation (TGT), recommending a buy at current prices and a subsequent purchase at a slightly higher point. This positive sentiment comes shortly after Target appointed PepsiCo’s Jim Lee as its new CFO, effective September 22nd. Lee brings a wealth of experience in finance and strategy from his 25-year career at PepsiCo.

Cramer expressed a cautious outlook for Unity Software Inc. (U), stating that he would only consider investing once the company starts generating substantial profits. This advice follows Macquarie analyst Tim Nollen’s maintenance of an ‘Underperform’ rating for Unity Software, although he raised the price target from $12 to $15.

The ‘Mad Money’ host displayed a strong conviction in Merck (MRK), urging viewers to buy the stock at its current levels. This encouragement is rooted in the positive news from Merck’s Phase 3 KEYNOTE-689 trial, which demonstrated that Keytruda (pembrolizumab), when used as a perioperative treatment for patients with newly diagnosed stage III or IVA, resected, locally advanced head and neck squamous cell carcinoma, met its primary endpoint of event-free survival (EFS).

Cramer exhibited a more reserved approach towards Alumis Inc. (ALMS), acknowledging its speculative nature. He advised potential investors to be fully aware of the inherent risk of potential losses before considering an investment, emphasizing that it wasn’t a personal favorite.

Regarding SoundHound AI, Inc. (SOUN), Cramer categorized it as a ‘meme stock’ that currently operates at a loss. This assessment aligns with DA Davidson analyst Gil Luria’s ‘Buy’ rating for SoundHound AI, albeit with a price target of $9.50.

In terms of recent stock movements, Unity Software shares experienced a slight decline of 0.1% to close at $21.19, while Alumis shares dropped 0.3% to $10.32. Target shares enjoyed a 1.6% gain, closing at $151.32. Meanwhile, SoundHound shares fell 1.3% to $4.68, and Merck shares decreased by 0.1% to $108.52.

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