If you've got the stomach for risk, Jim Cramer thinks this stock deserves your attention.
"I'm talking about Compuware, CPWR, an enterprise software firm with a variety of products which help ensure that critical business technologies work the way they should," said Cramer.
Although this stock is strictly a spec play – Cramer thinks it's worth a look because it could have multiple catalysts. 4 of them follow:
1. The possibility of a private equity firm taking Compuware private or multiple private equity players getting into a bidding war.
"Back in December, when Compuware was trading around the mid $9 level, it caught an $11 takeover bid from Elliott Management, a very smart hedge fund that wanted to take the company private," Cramer explained. "Then, in late January Compuware rejected Elliott's offer, saying that it significantly undervalued the company. However, management also made it known that they were being advised by Goldman Sachs, and said the company would carefully review and evaluate any credible offer it received, provided they deliver full value to its shareholders."
Cramer thinks that kind of statement can only be translated one way: Compuware is on the block, they're happy to sell; they just want more money.