Why Cramer crowned this stock
Take the wireless communication tower business, for example. Earlier this week, Crown Castle International said it will buy rights to about 9,700 AT&T towers for $4.85 billion in cash. Crown Castle will purchase some 600 towers and have the exclusive right to lease and operate around 9,100 AT&T towers for a weighted average term of about 28 years. The company will have the option to purchase AT&T's towers at the end of the lease terms for option payments of around $4.2 billion. Following this deal, there are just a handful of players in the tower business, Cramer said Monday, including American Tower and SBAC.
Cramer thinks investors should consider buying shares of Crown Castles, though. The company is going to pay for its acquisition by a secondary offering, which caused shares to fall.
Crown Castle's stock is not cheap, Cramer admitted. It's currently selling for 49 times 2015 earnings estimates, but it also has a 45.6 long-term growth rate, which Cramer said many money managers would "pay through the nose for that kind of growth."
"I say take advantage of Crown Castle's upcoming secondary offering to buy the stock into weakness," Cramer said. "Or even better, try to get some shares in the deal."
—By CNBC's Drew Sandholm. Reuters contributed to this report
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