Jim Cramer: This Industrial Company Is 'Absolutely Terrific', Recommends Buying Modine Manufacturing
On CNBC's “Mad Money Lightning Round,” Jim Cramer believes in Moderna, Inc. (NASDAQ:MRNA).
On May 14, Evercore ISI Group analyst Cory Kasimov initiated coverage on Moderna with an In-Line rating and announced a price target of $120.
The “Mad Money” host likes Mind Medicine (MindMed) Inc. (NASDAQ:MNMD). “Anything that makes it so that there's ways to be able to get rid of pain and do good without getting people hooked, I am all in on. Doesn't necessarily mean it will make a lot of money, I don't care,” he added.
On May 13, Oppenheimer analyst Francois Brisebois reiterated Mind Medicine with an Outperform and lowered the price target from $29 to $20.
“I don't want you to sell, and I don't want you to double down,” Cramer said when asked about Hertz Global Holdings, Inc. (NASDAQ:HTZ). “Let's just see if it can't go higher.”
On April 25, Hertz Global reported mixed first-quarter financial results.
Cramer recommended buying Modine Manufacturing Company (NYSE:MOD). “That kind of metal-bending industrial company is precisely what's working here,” he added.
Modine is scheduled to host a conference call and webcast to discuss its fourth quarter and fiscal year 2024 financial results on Wednesday, May 22.
AMETEK, Inc. (NYSE:AME) is a buy, Cramer said. It is an “absolutely terrific” company.
On May 2, AMETEK reported worse-than-expected first-quarter sales results.
When asked about Palantir Technologies Inc. (NYSE:PLTR), he said, “The quarters are uneven.”
On May 6, Palantir said first-quarter revenue increased 21% year-over-year to $634 million, which beat the consensus estimate of $625.431 million, according to Benzinga Pro.
Price Action:
- Moderna shares rose 2.1% to settle at $128.32 on Tuesday.
- MindMed shares rose 0.5% to close at $8.49.
- Modine Manufacturing shares rose 4.4% to settle at $105.66 on Tuesday.
- AMETEK shares fell 0.9% to settle at $168.53.
- Hertz shares rose 9.7% to close at $6.00 on Tuesday.
- Palantir shares rose 2.4% to settle at $21.44 on Tuesday.
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