Jim Cramer Says Joby Aviation Is 'Good' And He's Going With It
On CNBC's “Mad Money Lightning Round,” Jim Cramer said Joby Aviation, Inc. (NYSE:JOBY) is “good” and he is going with it.
In support of his view, HC Wainwright & Co. analyst Amit Dayal maintained Joby Aviation with a Buy rating on June 9 and raised the price target from $9 to $13.
“You're in good shape. That's Rene Haas [CEO of ARM Holdings],” Cramer said when asked about Arm Holdings plc (NYSE:ARM). “He is a partner of Nvidia (NASDAQ:NVDA).”
Benchmark analyst Cody Acree, on June 9, reiterated ARM Holdings with a Hold rating.
When asked about Papa John’s International, Inc. (NASDAQ:PZZA), Cramer said it is a “wait and see situation with [Todd] Penegor [CEO of Papa John’s Pizza].”
On the earnings front, the company reported first-quarter adjusted earnings per share of 36 cents on May 8, beating the analyst consensus estimate of 35 cents. Quarterly sales of $518.31 million (up 1% year over year) outpaced the Street view of $513.55 million.
Price Action:
- Joby shares gained 2.3% to settle at $9.44 on Tuesday.
- Arm gained 1.5% to settle at $140.63 on Tuesday.
- Papa John's shares fell 4.6% to close at $48.20.
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