Jim Cramer: This Real Estate Stock Is 'Still Too Expensive'

On CNBC's “Mad Money Lightning Round,” Jim Cramer said Equinix, Inc. EQIX is “still too expensive.”

On Aug. 7, Truist Securities analyst Anthony Hau maintained Equinix with a Buy and raised the price target from $904 to $961.

When asked about Albemarle Corporation ALB, he said, “We're not going to go there, it's too volatile and too hard to actually nail down. I'm going to say skip that one.”

On the earnings front, Albemarle, on July 30, reported second-quarter revenue of $1.33 billion, beating estimates of $1.22 billion, according to Benzinga Pro. The company reported second-quarter adjusted earnings of 11 cents per share, which may not compare to estimates.

Cramer said Astera Labs, Inc. ALAB is “too hot” for him.

On Aug. 5, Astera Labs reported second-quarter revenue of $191.9 million, up 150% year-over-year and up 20% quarter-over-quarter. The revenue total beat a Street consensus estimate of $172.54 million according to data from Benzinga Pro.

Price Action:

• Albemarle shares dipped 3.4% to settle at $77.98 on Tuesday.
• Astera Labs shares rose 7% to settle at $192.00.
• Equinix shares gained 1.4% to close at $787.32.

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