The list of awfulness is long. It seems almost no one has anything nice to say about IBM (IBM) any more, a fact which, in and of itself, could be seen as cause for a closer look.
Officially, shares of “Big Blue” are in their own private bear market, having fallen 20% over the past nine months from an all-time high of $216 hit in March. In addition, the stock is now down about 10% for the year, giving it the dubious honor of being the worst performing member of both the Dow Jones Industrials (^DJI) and the mega-cap S&P 100 (^OEX).
As a result, this enormous legend of I.T. has fallen seriously out of favor with Wall Street and has never been less loved by analysts. According to FactSet data, just 28% of analysts currently rate IBM a “buy” - the lowest percentage in at least 20 years.
“IBM has had a tough year, largely because of its international business,” says Hugh Johnson, chairman of Hugh Johnson Advisors in the attached clip. Johnson boldly chooses Big Blue as his comeback stock of