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NEW YORK (TheStreet) -- Shares of International Business Machines (IBM) may be unloved by Wall Street, but Jim Cramer told Debra Borchardt at TheStreet.com Monday he's been a buyer for his charitable trust, Action Alerts PLUS.
Cramer reminded viewers that IBM is software company, not a hardware company, so it's not suffering along with the likes of Dell (DELL) or Hewlett-Packard (HPQ). He said the numbers at IBM are good, the estimates are too low and the company trades at an appealing P/E ratio.
IBM also is doing well despite the slowdown in Europe, said Cramer, another plus for the stock. That's why Cramer said his price target for the company stands at $225 a share.Watch the full Cramer interview here. --Written by Scott Rutt in Washington, D.C. To email Scott about this article, click here: Scott Rutt Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.
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