Here's an undervalued stock that can benefit from new Alzheimer's drugs

Published Tue, Jun 11 202411:41 AM EDT

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Tuesday's key moments. U.S. stocks were under pressure Tuesday ahead of the Federal Reserve's Wednesday afternoon interest rate decision. No change is expected in rates, but investors want hints on whether a cut or cuts are coming later this year. Financials was the worst sector Tuesday, with Club names Morgan Stanley and Wells Fargo both down. Jim Cramer wants to be a buyer in this market but said it's "still tricky to buy right now," with the Fed announcement ahead — not to mention the upcoming print on consumer inflation Wednesday morning. GE Healthcare shares fell more than 1% on Tuesday. Jim said Wall Street's reaction is wrong and GEHC has room to run higher. He cited Monday's voting by independent advisors to the FDA to recommend approval of Eli Lilly 's drug to treat Alzheimer's disease. The go-ahead by the full FDA would boost demand for GE Healthcare's MRI solutions because imaging is needed for this class of Alzheimer's drugs. Biogen already has one on the market. "This is very frustrating to me," Jim said, arguing it feels like "[GEHC] stock is mispriced." JPMorgan analysts said that artificial intelligence-driver data center infrastructure investments will not be slowing anytime soon, which bodes well for portfolio name Dover . That's because Dover manufactures industrial-style pumps used in liquid cooling so that these data center facilities can function properly. Jim said he wants to build a larger position in Dover over time. (Jim Cramer's Charitable Trust is long WFC, MS, GEHC, LLY, DOV. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.