Jim Cramer: I believe 12 times. Say it goes 12 by 2015.

Debra Borchardt: It's 10 times now and it has the potential to go to 12.

Jim Cramer: It's going to earn 20 bucks in 2015 and so 200 plus another two multiples and you get to where it could only go to 240 over time. It is not a company that does these kinds of moves. These kinds of moves were predicated giant moves because it was supposed to miss and it didn't miss. The last quarter was bad, we did another video about Coach the last quarter being inconsistent. IBM had been consistent until the last quarter and in that quarter they told you they had some orders that were pushed out and what happened is, we discovered that was true. A lot of times companies say it and it's not true. It's true in IBM's case and that's why the stocks going higher.

Debra Borchardt: All right. So Jim's saying you can definitely take a look at IBM - looking good here.

--Written by Debra Borchardt in New York.

>To contact the writer of this article, click here: Debra Borchardt.
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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