Jim Cramer buys Target stock amid market discussions
- Target appointed Jim Lee as CFO, effective September 22, 2024.
- Jim Cramer plans to buy Target stock and discussed the financial health of other companies, including Merck and SoundHound AI.
- Cramer's recommendations emphasize the importance of understanding a company's financial viability before investing.
On September 19, Target appointed Jim Lee as its new CFO, effective September 22. Lee, who has over 25 years of experience at PepsiCo, replaces Michael Fiddelke. Jim Cramer, a financial commentator, expressed his intention to buy Target stock at its current price and suggested waiting for a further price increase before purchasing more. He also discussed other stocks, including Merck, which recently announced positive results from a Phase 3 trial of its cancer treatment, Keytruda. Cramer advised caution regarding speculative stocks like Alumis, while he dismissed SoundHound AI as a 'meme stock' that is not financially viable. Despite Cramer's skepticism, SoundHound received a Buy rating from DA Davidson with a price target of $9.50. Overall, Cramer’s recommendations reflect a cautious approach to investing, emphasizing the importance of understanding the financial health of companies before making investment decisions.