Jim Cramer: Astera Labs Has 'Tremendous Growth'

On CNBC's “Mad Money Lightning Round,” Jim Cramer said Astera Labs, Inc. (NASDAQ:ALAB) is a company that is “incredibly well-run that has tremendous growth.” He recommended buying the stock “given the fact that so many of these other stocks actually even have higher price-to-earnings multiples.”

Morgan Stanley analyst Joseph Moore supported his view by upgrading the rating for Astera Labs from Equal-Weight to Overweight and maintaining the price target of $99.

When asked about Omega Healthcare Investors, Inc. (NYSE:OHI), he said, “I think you're right to be worried.”

On the earnings front, Omega Healthcare Investors reported quarterly earnings of 75 cents per share on May 1, beating the analyst consensus estimate of 74 cents per share. The company reported quarterly sales of $276.80 million, missing the analyst consensus estimate of $288.69 million.

Price Action:

• Omega Healthcare Investors shares fell 1.4% to settle at $35.91 on Wednesday.
• Astera Labs shares rose 3.3% to close at $90.66 during the session.

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