I think you should be buying the stock of AT&T, Jim Cramer says.
Elliott Management, the same activist firm that helped improve value in eBay this year, is an organization that can spark the needed interest of big fund investors, theWhile shares of the telco giant are up more than 31% this year, the stock is up just 3% since AT&T announced it would acquire DirecTV in May 2014, according to FactSet.
Elliott is urging that the technology conglomerate slim down its noncore holdings, pay down debt and boost operational efficiency. The activist fund laid out its stance in a Monday announcement that detailed itsThe firm is also calling to hire third-party consultants to review AT&T's operations and discover areas to reduce inefficiency and increase margins.
"I think these Elliott guys are smart. They work hard to get to know their targets, they have enough resources to work with the best people ... and they've relentlessly focused on creating value," Cramer said. "That's why they've got such a fabulous track record."
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