Insights from Jim Cramer: Veralto and Key Stocks to Watch
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Jim Cramer's Take on Veralto Corporation and Key Stocks
In a recent episode of CNBC's “Mad Money Lightning Round,” renowned financial commentator Jim Cramer expressed favorable views on several utility stocks, placing particular emphasis on Veralto Corporation (NYSE: VLTO). Cramer described Veralto as a “very well-run” company and highlighted its solid management practices.
Valuation and Analyst Ratings
Cramer acknowledged that while Veralto is a strong player in the market, further growth might hinge on potential acquisitions or significant upticks in earnings, which he deemed unlikely in the near term. His comments came on the heels of analyses by other financial institutions.
On a separate note, Jefferies recently initiated coverage on GE Vernova Inc (NYSE: GEV), assigning it a Buy rating with a notable price target of $261. This reflects a growing optimism among analysts regarding GE Vernova, underlining its pivotal role in the ever-evolving energy sector.
Competitive Insights
Meanwhile, Cramer shared insights into other prominent stocks in the utilities sector. When discussing Eastman Chemical Company (NYSE: EMN), he remarked on its attractive 3% dividend yield, suggesting that this makes it one of the more appealing options in the plastics market.
He also noted that on August 20, Eastman appointed Iké Adeyemi as Chief Legal Officer, indicating a strategic move within its corporate structure.
Market Performance Updates
Turning to Lam Research (NASDAQ: LRCX), Cramer noted a recent decline in its shares, stating, “It has gone down too much,” and advised potential investors to consider slow buying instead of making large purchases at once to avoid possible losses.
In terms of action, Lam Research recently lifted its quarterly dividend from $2.00 to $2.30, which may indicate confidence in its operational strength.
Stock Performance Summarized
As for recent stock movements, here’s a quick summary: GE Vernova shares saw a minor drop of 0.1%, closing at $198.33. In contrast, Veralto's shares decreased by 1%, ending at $108.72. Lam Research experienced a more significant slide of 2.9% to close at $733.83, while Eastman Chemical fell 0.9% to $97.17.
Frequently Asked Questions
What does Jim Cramer think about Veralto Corporation?
Jim Cramer regards Veralto as a very well-run company, but he is uncertain about its near-term growth potential without acquisitions or accelerated earnings.
What recent ratings did GE Vernova receive?
Jefferies initiated coverage on GE Vernova with a Buy rating and set a price target of $261.
How did Eastman Chemical's stock perform recently?
Eastman Chemical's shares fell by 0.9%, settling at $97.17.
What is Cramer's view on Lam Research?
Cramer believes Lam Research has declined too much but advises buying the stock gradually.
What changes occurred in Lam Research's dividend?
Lam Research increased its quarterly dividend from $2.00 to $2.30 per share, signaling confidence in its performance.
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