Jim Cramer Says He's Buying 'Some Target,' But Dismisses SoundHound AI As 'Meme Stock'

On CNBC's “Mad Money Lightning Round,” Jim Cramer said he likes Target Corporation TGT right here. “I'm going to buy some Target at this price and then wait another five points and buy more,” he noted.

On Sept. 19, Target tapped PepsiCo, Inc‘s PEP Jim Lee as its CFO and a member of its leadership team, which became effective Sept. 22. Lee brings over 25 years of experience in finance, strategy and more at PepsiCo. He takes over from COO Michael Fiddelke. Lee has served on multiple boards during his PepsiCo career, including Tropicana Brands Group and Celsius Holdings.

Cramer said to give him a call when Unity Software Inc. U starts making a lot of money.

On Sept. 17, Macquarie analyst Tim Nollen maintained Unity Software with an Underperform rating and raised the price target from $12 to $15.

“I think at these levels you want to buy the stock of Merck MRK,” the “Mad Money” host said.

On Tuesday, Merck announced that the Phase 3 KEYNOTE-689 trial of Keytruda (pembrolizumab), as a perioperative treatment for patients newly diagnosed with stage III or IVA, resected, locally advanced head and neck squamous cell carcinoma met its primary endpoint of event-free survival (EFS).

When asked about Alumis Inc. ALMS, he said, “That is a really, incredibly speculative situation. As long as you know it's speculative, and you could lose everything on that one, go ahead. It's not my cup of tea.”

On Sept. 27, the company presented the 28-week open-label extension period data from its Phase 2 STRIDE trial of ESK-001.

SoundHound AI, Inc. SOUN is a “meme stock, it loses money,” Cramer said.

On Sept. 30, DA Davidson analyst Gil Luria maintained SoundHound AI with a Buy and a $9.50 price target.

Price Action:

• Unity Software shares fell 0.1% to settle at $21.19 on Tuesday.
• Alumis shares declined 0.3% to close at $10.32.
• Target shares gained 1.6% to close at $151.32 during the session.
• SoundHound shares slipped 1.3% to close at $4.68 during Tuesday's session.
• Merck shares fell 0.1% to close at $108.52 on Tuesday.

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